empty
 
 
10.02.2014 06:23 PM
USD/CAD intraday technical levels and trading recommendations for February 10, 2014

This image is no longer relevant

The bulls managed to hit fresh highs (around 1.1220) that haven't been visited since 2009.

Recently, the USD is failing to keep its gains against CAD, and the USD/CAD pair was pushed to the downside, thus indicating weakness of the ongoing bullish momentum.

This is manifested in the recent weekly candlestick that came as bearish engulfing one.

The prominent resistance zone is located around 1.1230-1.1250 corresponding to 50% Fibonacci level of the bearish swing that extended in between March 2009 and July 2011.

This image is no longer relevant

The daily chart reveals an atypical "head and shoulders" reversal pattern. If this pattern is confirmed, the USD/CAD pair will have a projection target located at 1.0880.

The pair has a significant support zone between 1.0700 and 1.0730 representing the upper limit of a previous consolidation range that got broken last month.

Minor support zone is located between 1.0950-1.0860 corresponding to previous congestion zone established in mid-January. Intraday bullish rejection may be expressed there as manifested on Friday's daily candlestick.

The next destination for the USD/CAD pair will probably be the price zone of 1.0700-1.0730.

Retesting of this zone would probably provide a valid BUY entry for the mid-term.

Ringkasan
Segera
Analitic
Mohamed Samy
Mulakan perdagangan
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN
  • Chancy Deposit
    Deposit akaun anda sebanyak $3,000 dan dapatkan $6000 lebih lagi!
    Dalam Diseember kami membuat cabutan bertuah $6000 dalam Kempen Chancy Deposit!
    Dapatkan peluang untuk menang dengan membuat deposit $ 3000 ke dalam akaun dagangan. Setelah memenuhi syarat ini, anda menjadi peserta kempen.
    SERTAI PERADUAN
  • Trade Wise, Win Device
    Daftar untuk peraduan dan tambah dana akaun anda dengan sekurang-kurangnya AS$ 500 untuk layak memenangi peranti mudah alih.
    SERTAI PERADUAN
  • Bonus 30%
    Dapatkan bonus 30% setiap kali anda membuat penambahan dana akaun anda
    DAPATKAN BONUS

Artikel yang dicadangkan

Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget