Forex Analysis: 2012-04-16 12:25:54 UTC+00 2 years, 3 months, 1 week, 6 days, 8 hours, 29 min. ago
USD/CAD Intraday Technical Analysis and Trading Recommendations for April 16, 2012


Show full picture

The USD/CAD Linear Regression Channels Hourly chart illustrates:

The USD/CAD currency pair remained in downtrend since last Wednesday within two identical bearish channels depicted on the chart.

On Friday the USD/CAD movement showed the bullish tendency presented in the bullish short-term Violet channel that was able to breakthrough the upper limit of the longer-term bearish channels.

Therefore, more attention should be paid to the bullish direction. Hence the price level 0.9970 should be considered for price action as it corresonds to the backside of the upper limit of the broken channels, the lower limit of the intact bullish violet channel & finnally a previous Intraday top.

As long as the USD/CAD pair is trading above 0.9970 with bullish price action, the pair is considered as bullish aiming towards 1.0050.

Breakdown of 0.9970 is likely to reveal the strength into the market aiming towards 0.9935 & 0.9888.

Mohamed Samy is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please give your vote for this analyst.

Performed by
analytical expert: Mohamed Samy
InstaForex Group © 2007-2014
 Published: 2012-04-16 12:25:54 UTC+00 2 years, 3 months, 1 week, 6 days, 8 hours, 29 min. ago

 
Recommend: Forex Analytics
 
Technical analysis of EUR/USD for July 29, 2014
2014-07-29 01:20:00 UTC+00 1 day, 1 hour, 35 min. ago  
Betrachtet heute 673
Intraday technical levels and trading recommendations on EUR/USD for July 29,...
2014-07-29 14:30:38 UTC+00 12 hours, 25 min. ago  
Betrachtet heute 652
Weekly forecast and an intraday analysis of Gold for July 29-August 01, 2014
2014-07-29 04:32:07 UTC+00 22 hours, 23 min. ago  
Betrachtet heute 719
Gold Technical analysis for July 29, 2014
2014-07-29 07:58:08 UTC+00 18 hours, 57 min. ago  
Betrachtet heute 628
Technical analysis of USD/CAD for July 29, 2014
2014-07-29 11:56:21 UTC+00 14 hours, 59 min. ago  
Betrachtet heute 672