If USDCAD able to pass through the area at the base of 0.9942, the pair will likely find high as I projected in the range of 0.9960 - 0.9973.
Thread: Usd/Cad
If USDCAD able to pass through the area at the base of 0.9942, the pair will likely find high as I projected in the range of 0.9960 - 0.9973.
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Since our last analysis Gold was trading in a downward move, impulsive wave 5 (coloured blue) of the bigger wave (C) (coloured green) was developing. Yesterday during the European session we could observe descending movement from 1,729.38 towards the 1,705.38 level. Therefore, during the New York session we could...
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The USD/CAD pair bounced around during the session on Wednesday in order to hover right around the 0.99 level. The general vicinity of 0.99 to the 0.9950 handle is where the market has been hanging about lately, and we think this will more than likely continue. After all, we have to figure out whether or not it is a “risk on” or “risk off” market. As all markets have suddenly become correlated over the last couple of years it’s hard to believe that this market will gain any traction in either direction. Once we get our shocking headline, or sudden “hopium” rally, this market will make its intentions obvious.
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Frustated at EUR/USD range? Learn to play the stops game
The Euro has been on the back-foot against a firmer Dollar, which also lost part of its shine following a rather uneventful monetary policiy statement by the Fed, very much in-line with expectations.
Reassurance over the Fed maintaining its previous language, and stating that low are likey to be kept at record lows until mid-2015 injected a softer tone in the US Dollar heading into the NY close. Downbeat data out of the euro area, including poor PMI and IFO, had previously squeezed some longs towards 1.2920 in Europe before the rate stabilized back above 1.2950.
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USDCAD has broken the resistance level at 0.9927. So, I think this pair has a potential to go up and reach the next resistance level at 0.9992. But if USDCAD fall and break 0.9927 level again, this pair may falls to the support level at 0.9862.
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USD/CAD truly on strong bulls. This, clear can be see with big MA and also Nice MACD on 4H TF. but recommendation for intraday trade, we must wait for break up price to more up that 161.8 fibo 0.9950. On simple say better search for buy, only or after the buyer also can break move up to that 0.9950.
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The short term trend of the pair is to the downside. Intraday trading range of the pair is expected among key support at 0.9725 and key resistance at 1.0045. Based upon my chart analysis, I prefer to buying the pair above 0.9900 with targets 0.9945, 1.0000 then 1.0040 and stoploss with four hour candle closing below 0.9825.
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Level monthly ressistance 1 (0.9957) become barrier for price to go up. After touch this level, price retrace down. price had formed zig-zag pattern with top in that ressistance level. If we look chart in tf m15, hma 32 will break down hma 192. this condition make price to go down again if there is not positif sentiment, price will fell down in this day.
Usd/cad technical analysis for 25.10.2012 by using : Auto pivot indicator.
resistance 3:1.0042
resistance 2:1.0001
resistance 1:0.9968
pivot point :0.9927
support 1:0.9894
support 2:0.9853
support 3:0.9820
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Elliott: correction zigzag 0.9870
It should trade higher to 0.9966 while 0.9912 or 0.9897 offers support. Stop loss below 0.9858 zone.
Technical points
Key point 0.9947
Entry point 0.9945
Elliott 0.9976
Closing 0.9935
Projection 0.9895
Trendline 0.9958
Trendline 0.9940
Supports / Resistances
Res 2 0.9996
Ex-High 0.9958
Res 1 0.9966
Pivot 0.9927
Sup 1 0.9897
Ex-Low 0.9889
Sup 2 0.9858
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