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10.09.2014 01:02 AM
Technical analysis of USD/CAD for September 10, 2014
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Trading recommendations:

  • According to the previous events, the USD/CAD pair is still moving between 1.1025 and 1.0950.
  • Sell below the price of 1.6026 which represents the ratio of 61.8% Fibonacci retracement levels with the first target at 1.0983. Then, it will go towards 1.0950 in order to test this strong support (50% Fibonacci retracement levels).
  • Buy above the price of 1.0950 (if the trend fails to close below it) with a target at 1.1026, then at the price of 1.1118 in order to test the strong resistance.

Notes:

  • Please, check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
  • The key level is set at 1.0950.
  • We expect a range of 75 pips in coming hours.
  • History will probably repeat itself at this level again.
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Intraday technical levels:

  • R3: 1.1080
  • R2: 1.1055
  • R1: 1.1018
  • PP: 1.0993
  • S1: 1.0956
  • S2: 1.0931
  • S3: 1.0894
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