GBP/JPY Technical Levels and Trading Recommendations for September 20, 2012
GBP/USD Intraday Technical Analysis and Trading Recommendations for September...
News: 2012-09-20 13:29:03 UTC+00 7 months, 3 weeks, 5 days, 21 hour, 40 min. ago
USD/CAD Intraday Technical Analysis and Trading Recommendations for September 20, 2012


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The USD/CAD pair found resistance around the price level of 0.9915 corresponding to the upper limit of the bearish channel breaking down the lower limit of the consolidation range at 0.9845 which previously acted as support level.

After breakdown of 0.9845, the market went to the downside reaching the price level of 0.9635, achieving the full target for this range bearish breakout located at 0.9745 and testing the lower limit of the depicted bearish long-term channel

Price level of 0.9840 should be watched for price action at retesting as it will probably offer a valid SELL entry with target at the lower limit of the channel around 0.9650. However, fixation above 0.9845 threatens again the bearish view confirming the possible bullish Head & Shoulders pattern depicted on the chart.

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

Performed by
Analytical expert: Mohamed Samy
InstaForex Group © 2007-2013
 Published: 2012-09-20 13:29:03 UTC+00 7 months, 3 weeks, 5 days, 21 hour, 40 min. ago

 
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