empty
 
 
22.08.2014 07:27 AM
Technical Analysis of USD/CAD for August 22, 2014

This image is no longer relevant

The pair has been making a head and shoulder pattern in the daily chart. The pair rejected at the neck line in yesterday's session. The pair is trading at 1.0936 in Asia's session. On the down side, it has support at 1.0915 (20DMSA), 1.08757(200DSMA), and 1.0864 (100DSMA). After the price goes through the neckline, it can spike up to 1.1020 and 1.1050 in the near term. The nearest resistance found at 1.1 above this, 1.1020 is the 61.8 fib level. Traders can buy once the price breaches above the neckline

Strong buy above 1.1.

A daily close below1.0860, the above study becomes invalid, and the pair can drift up to 1.08 levels.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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