SubscribeHeiken Ashi and zero trend indicators are still sigh bearish trend for USDCAD. I think this pair still potentially go down towards null target at 1.08502 and may continue to touch reverse line 1.08352 before it starts to rise.
Thread: Usd/Cad
Heiken Ashi and zero trend indicators are still sigh bearish trend for USDCAD. I think this pair still potentially go down towards null target at 1.08502 and may continue to touch reverse line 1.08352 before it starts to rise.
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Daily technical analysis for USDCAD 19/05/2014
USDCAD looks set to visit further lower territory down to around 1.0856 - 1.0845. Its corrective attempts should fail ahead of 1.0873 or 1.0878. Stop loss above 1.0900 zone.
Key Point 1.0846
Entry Point 1.0864
Trendline 1 1.0878
Trendline 2 1.0886
Support 1 1.0845 Support 2 1.0834
Resistance 1 1.0878 Resistance 2 1.0900
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analysis for today 5 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CAD on the date 5 / 16 / 2014
OPEN 1.0882
HIGH 1.0888
LOW 1.0856
CLOSED 1.0860
The third resistance (R3) 1.0888 -( 1.0868 - 1.0856 = 0.0012 x 2 = 0.0024 )= 1.0912
The second Resistance (R2) 1.0868 + 1.0888 - 1.0856 = 1.0900
First resistance (R1) 1.0868 x 2 = 2.1736 - 1.0856 = 1.0880
pivot points 1.0888 + 1.0856 + 1.0860 = 3.2604 / 3 = 1.0868
Support for the first (S1) 1.0868 x 2 = 2.1736 - 1.0888 = 1.0848
Support second (S2) 1.0868 -( 1.0888 - 1.0856 = 0.0032 ) = 1.0836
Third Support (S3) 1.0856 -( 1.0888 - 1.0868 = 0.0020 x 2 = 0.0040 )= 1.0816
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Analysis of the USDCAD the trend was Down yesterday amd we have the strongest level at 1.0851 and 1.0842 which can be considered as the support points, On the other side we have a resistance points located at 1.0869 & 1.0878 at the end consider this points in your trades according to your own forecasting and trades direction that you will enter. .
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the USDCAD analysis for 5/18/2014 it seems that the direction will be Down about the levels we have a strong support at 1.0851 which may stop the price from going down, But it will also be a good place to sell if the candle closes below it, On the other hand the Level 1.0881 acts as a strong resistance, which could be considered a strong place to buy from if broken. .
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Weekly analysis for USDCAD 19-23 May 2014
USDCAD irregular flat correction down 1.0812, No Pivot Points have been reached.
Elliott 1.1053
Closing 1.0857
Ex-Low 1.0852
Ex-High 1.0927
Support 1 1.0831
Support 2 1.0805
Resistance 1 1.0906
Resistance 2 1.0954
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Weekly technical analysis for USDCAD
USDCAD market should not go lower than 1.0815. After this move down it should go up to 1.0905 area.
Key Point 1.0820
Entry Point 1.0863
Trendline 1 1.0926
Trendline 2 1.0870
Support 1 1.0830 Support 2 1.0804
Resistance 1 1.0905 Resistance 2 1.0953
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Daily analysis for USDCAD
USDCAD irregular flat correction up 1.0944, close to daily pivot point 1.0876
Elliott 1.0852
Closing 1.0884
Ex-Low 1.0852
Ex-High 1.0891
Support 1 1.0862
Support 2 1.0838
Resistance 1 1.0901
Resistance 2 1.0916
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pair- usd/cad
chart analysis time frame- m15
the price movement can see in the double top chart pattern with having the resistance at the 1.0885 level. and the stoch indicator is also at the overbought level and this will may down side. if this break the 1.0890 then make long entry with the take profit 1.0950.
good luck.
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USD CAD broke the ascending trend line and it broke the strong support level @ 23.6% fibo for the last bullish wave on the Daily time frame, so falling down will be expected next weeks, targeting 38.2% fibo level initially.
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