SubscribeThe U.S. Dollar was higher against the Canadian Dollar on Friday.
USD/CAD was trading at 0.9788, up 0.02% at time of writing.
The pair was likely to find support at 0.9745, Tuesdays low, and resistance at 0.9835, Thursdays high.
Thread: Usd/Cad
The U.S. Dollar was higher against the Canadian Dollar on Friday.
USD/CAD was trading at 0.9788, up 0.02% at time of writing.
The pair was likely to find support at 0.9745, Tuesdays low, and resistance at 0.9835, Thursdays high.
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Usd/cad technical analysis for 12.10.2012 by using : Auto pivot indicator.
resistance 3:0.9899
resistance 2:0.9868
resistance 1:0.9826
pivot point :0.9795
support 1:0.9753
support 2:0.9722
support 3:0.9680
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Price still move with strong pressure that affect price to down until lowest price (0.9762). Now, price go down again and not able against pressure. If price continue down, it may get a new lowest level in this week.
in daily time frame chart, we can see that the previous candle or the yesterday candle is an outside bearish candle. So, I think the seller is dominating market now. USDCAD has a potential to fall today. I expect this pair will touch the 0.9749 support level or even lower today.
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Today’s technical analysis for 12.10.2012
Price is open below the pivot point- 0.9793
Resistance 3- 0.9895
Resistance 2- 0.9864
Resistance 1- 0.9824
Pivot point- 0.9793
Support 1- 0.9753
Support 2- 0.9721
Support 3- 0.9681
price is open below the pivot point but we can break of pivot point and price will move the resistance 0.9824 after touching this level may be we can see again down movement till 0.9793
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USD/CAD now 0.9775. 4H chart shows down trend. 4 candle down at moment.
1 H chart shows mix trend but daily chart show down side.
next target ma be 0.9725 level.
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I think that about any increase in the north is not necessary to speak, the couple can not become stronger above the moving alligator (daily chart), and that the course is only to pick up again fall goals for this week all hedgehog may be the level of 9740 and if you break through that and 9633.
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Pair has completed corrective wave south, the rate is approaching sloping support line around which formed consolidation of it and I expect to continue growth, keep buying the breakdown buy another 9830.
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No changed in our view, USDCAD remains in downtrend from 0.9884, the rise from 0.9734 is treated as correction of the downtrend.
Another fall towards 0.9632 previous low could be expected after correction, and a breakdown below 0.9734 could signal resumption of the downtrend.
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Pair moves of the U.S. dollar against the Canadian dollar above the 0.9800 influenced positively Stochastic, while SMA 50 continues to put negative pressure on intraday trading, to protect the overall scenario of the expected bearish trend for the pair in the short term, where wait objectives begin the day at 0.9700 then 0.9600
Penetrate 0.9885 and stabilizing above it may constitute a turning point in intraday trading upward.
Expected trading range for today is between: support at 0.9600 and resistance 0.9885
General tendency is expected for the day: Down
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