empty
 
 
27.02.2014 03:07 AM
Technical analysis of USD/CAD for February 27, 2014

New home sales data boosted the US dollar. it was the strongest data from the housing market. USD/CAD remains in a downtrend from 1.1224, January 31, 2014 high, and it extended its fall to 0.0910. The pair again tried to cross the previous high from the low of 0.0910, but it was unable to cross it. In yesterday's trading session the pair showed a good sign of recovery. The pair made a double bottom at the level of 1.1055 this week. Any major weakness is only below this level. In the daily and hourly charts, the RSI is not comfortable for more upside. In the hourly chart, the pair may face resistance at the level of 1.1144.

During the Asian trading session the pair is trading at the level of 1.1133.

Intraday-

S1 1.1110 R1 1.1144

S2 1.1087 R2 1.1172

S2 1.1073 R2 1.1195

Intraday recommendation-

Sell with sl at 1.1144 and targets at 1.1124, 1.1113, 1.1102, and 1.1089.

Buy above 1.1145 with targets at 1.1172 and 1.1195.

This image is no longer relevant

Positional recommendation-

Hold longs with sl at 1.1055.

Sell below 1.1055 with targets at 1.0934.

This image is no longer relevant
InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback