the trend is still up
if indicates the trend is still trade above from :1.0606
Recommendation: BUY
Take profit1: 1.0654
take profit2:1.0695
Stop Loss : 1.0563
the trend is still up
if indicates the trend is still trade above from :1.0606
Recommendation: BUY
Take profit1: 1.0654
take profit2:1.0695
Stop Loss : 1.0563
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Updated : 17 dec
movement: 0.03%
Support : 1.0550
Pivot : 1.0620
Resistance: 1.7585
sell from: 1.0609
target: 1.0659
stop loss: 1.0560
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The USD/CAD pair spent the majority of the session on Monday following, but bounced hard enough to form a hammer. This hammer is just below the 1.06 handle, so therefore it has the look of a market that is trying to find the bottom of the recent consolidation area. Because of this, I think that this market is ready to continue going higher, and we may simply see this market grind sideways for the next week or two. It seems very comfortable in this general vicinity, so why not?
Im actually very bullish this pair. However, I recognize that this time of year you should probably take your profits relatively quick, and therefore this is more or less going to be like the rest of the Forex market: a market for scalpers. That being said, I still believe that the barrier at the 1.07 level will be overcome given enough time, and once that happens we could head to the 1.10 level.
Lower liquidity could keep this market relatively quiet.
The fact that we have lower liquidity of the moment means of this market could be relatively quiet for the next two weeks. With that in mind, I am buying this market every time it pulls back and shows any signs of support like it has during the session on Monday, and aiming for small gains such as 50 or 75 pips. We could possibly get larger gains than that, but until we get the daily close above the 1.07 handle, I dont think will really going to see a massive move higher.
As usual, keep an eye on the oil markets, as they can have an effect on the Canadian dollar. Again though, I dont see those markets taking off in one direction or the other in the next two weeks either, as I believe traders are starting to take their holiday vacations. With that being the case, they certainly arent concerned about the Forex or commodity markets, and then could keep this pair on the back burner for at least two weeks, possibly even three.
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price now: 1.0609
buy price @ 1.0586
profit in pips :23
stop loss :1.0596
Resistance 1: 1.0599
Resistance 2: 1.0602
support 1: 1.0576
support 2: 1.0573
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date :17 december 2013
pair : usdcad
the pair in down trend
indicators down : 4
indicators up : 4
ao :-0.0018
ac :0.0005
bears(13):-0.0007
good luck
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USD/CAD
Buy the pair above 1.0595 with targets 1.0609 and 1.0623
Below 1.0595 Sell the pair with 1.0586 and 1.0577 as targets.
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Analysis for today17/12/2013
Resistance4: 1.o776
Resistance3: 1.0723
Resistance2: 1.0689
Resistance1: 1.0643
Pivot Point: 1.0592
Support 1: 1.0533
Support 2: 1.0489
Support 3: 1.0423
Support4:
Good luck
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pair: usdcad
date : 17 december 2013
THE PAIR IN up TREND
cci(14) : 89.66
RIS 14 : 60.22
STOK(5,3,3)
v1: 65.99
v2: 74.92
I SEE THE PAIR WILL GO up from :1.0592
our target is : 1.0792
sl:1.0492
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Couple came up to resistance level 1.0590, from which steam can rebound and continue to decline to the support level 1.0560 and 1.0490. If the pair manages to break the resistance level, the pair will try to restore growth to the level of 1.0680, where a correction may be followed again.
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Pair = USDCAD
Date = Tuesday, December 17, 2013
Tipe = Pivot Point
Result
R3 = 1.0623
R2 = 1.0608
R1 = 1.0601
PP = 1.0586
S1 = 1.0579
S2 = 1.0564
S3 = 1.0557
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