Resistance3= 1.0608, Resistance2=1.0601, Resistance1:= 1.0591 , Pivot Point=1.0584 Support 1=1.0575 Support 2=1.0568 , Support 3=1.0558 {Hope a good day for all of you good luck to all}
Resistance3= 1.0608, Resistance2=1.0601, Resistance1:= 1.0591 , Pivot Point=1.0584 Support 1=1.0575 Support 2=1.0568 , Support 3=1.0558 {Hope a good day for all of you good luck to all}
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pair- usd/cad
chart analysis time frame- m15
the price break the resistance trend line but its in strong down trend direction so up trade is not profitable. the stoch indicator is showing overbought level so its may be again down side. we can short this pair with the breaking support at 1.0570 and take profit to the daily support at 1.0554 and lower.
good luck
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USD/CAD is still above the 1.0561 support but the price action is now indicating a bearish pressure for some more downward consolidation. If the support of 1.0561 fails then we would expect further consolidation 1.0520/1.0530 support zone. This zone does not only represent a previous support but also the 55-day EMA and the psychological support of 1.0500 level. In case and decisive break below 1.0500 takes place then it will indicate a short-term topping. On the upside a break over 1.0660 is required to see a retest of 1.0700 or a break above that.
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the trend is still down
if indicates the trend is still trade down from :0.0592
Recommendation: sell
Take profit1: 0.0550
take profit2:0.0509
Stop Loss :0.0635
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In this pair we assume will remain on the bullish outlook, due to conclude at the level of 1.0706 will extend the larger trend up from 0.9633. But still be careful when at the level of 1.0656 and the long term retracement level at 1.0803. On the downside, break of support at 1.0555 the lower channel will be the first sign of reversal and will turn bearish for 1.0415 support.
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date :16 december 2013
pair : usdcad
the pair in down trend
indicators down : 4
indicators up : 4
ao :0.0075
ac :-0.0031
bears(13):-0.0023
good luck
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Today 16/12/2013
Resistance and Support
R3: 1.0743
R2: 1.0674
R1: 1.0620
Pivots: 1.0581
S1: 1.0533
S2: 1.0478
S3: 1.0427
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USD/CAD Daily Trade
Sell the pair below 1.0574 with targets 1.0555, 10.500 then 1.0435 and S/L above 1.0580
if S/L was triggered, Buy the pair above 1.0580 with targets 1.0610 then 1.0643 and S/L below 1.0577
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Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Pair = USDCAD
Camarilla pivot point
R4 = 1.0629
R3 = 1.0605
R2 = 1.0597
R1 = 1.0589
S1 = 1.0573
S2 = 1.0565
S3 = 1.0557
S4 = 1.0533
Monday, December 16, 2013
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