empty
 
 
26.06.2014 02:30 PM
Technical analysis of USD/CAD for June 26, 2014

This image is no longer relevant

Overview:

  • As expected, the USD/CAD pair rebounded at the level of 1.0723 in the short term, and it showed signs of strength following the level of 1.0666. The level of 1.0666 is going to represent a strong support on June 2014. Additionally, the support has broken and turned to resistance at the level (1.0780). Also, it should be noted that the area of 1.0666 - 1.0625 is acting as a strong spot because the price set above the support a month ago. Furthermore, the price has still been trapped between 1.0660 and 1.0780. Therefore, the USD/CAD pair started showing the signs of bullish market, so the market indicates the bullish opportunity at the level of 1.0666 with the first target of 1.0740, and continues towards the level of 1.0780 again. On the other hand, the stop loss should always be taken into account, thus it will of the wisdom to set your stop loss at the 1.0610 price.
Summary
Urgency
Analytic
Mourad El Keddani
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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