empty
 
 
15.06.2015 04:56 AM
Technical analysis of USD/CAD for June 15, 2015

USD/CAD

The pair closed below 20Wsma for the second consecutive week posting 2nd weekly loss. The 20Wsma is found at 1.2410. On the daily chart, the pair closed below 100Dsma as well which seems to be at 1.2415. These levels turn into weekly resistance at 1.2415. Bulls must close above 1.2415 to regain their control. Multi-top is seen at 1.2563 on the daily chart. Ahead of FOMC meeting on Wednesday, shorting is not a good idea. I request traders could wait patiently to open a good trade on the either side. Last Tuesday, the forecast was made at 1.2250, the pair made a low at 1.2200. Dollar bulls managed to hold the 100Dema on a closing basis. This is the best deal for bulls so far. With a daily close below 100Dema 1.2230, bears are aiming at 1.1970 and 1.1900.

Today, we expect wild moves ahead of the US and Canada's data. If the Canadian manufacturing readings turn out to be above expectations, bears aim at 1.2220.

Trade: Selling is available below 1.2300 towards 1.2270,1.2255, and 1.2220.

Buying is available above 1.2385 with targets at 1.2420 and 1.2440.

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