empty
 
 
16.04.2015 06:44 AM
Technical analysis and trading recommendation for USD against CAD and YEN for April 16, 2015


The US printed weak data again. The headline general business conditions index turned slightly negative for the first time since December, falling eight points down to -1.2. The new orders index, which is negative for the second consecutive month, dropped four points down to -6.0. Builder confidence in the market for newly built, single-family homes in April rose four points to the level of 56 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released yesterday. USD softens against most major pairs. USD falls down from the major support base against the loonie.

The USDX edged lower from 99.36. The index made a low at 97.90 that is likely to turn double bottom in the four-hour chart. Intraday resistance is seen at 98.45 and 98.75. In the four-hour chart, moving averages favor bulls with bullish crossover. At the Asian session, gold made double top and the USDX made double bottom in the four-hour chart.

This image is no longer relevant

USD/CAD

The loonie strengthens against USD, EUR & GBP. Rising oil prices are one of the most important factors for the spike. The Bank of Canada kept its interest rates at 0.75%. The Bank expects the global growth and average 3 1/2 per cent per year over 2015-17, in line with the projection in the January Monetary Policy Report. The pair broke below the support zone and closed below that. The pair has immediate support at 1.2245 20Wsma. In case the price fell below this, the next strong support will be found at 1.2220 and 1.2200. The near term turned bearish. We have been recommending this view for 2 days. In case the price closes below 1.2200, the medium-term trend will turn to bearish. We recommended buying of crude oil at yesterday's session. For the next couple of months (April to June) the trading pattern is framed between 1.2200 and 1.3000. A rise in crude oil prices affects bulls and favors bears. In case if oil prices touch $62.00, the pair can drift more towards 1.1875.

Bulls' last hope lies at 1.2200

Trade: We recommend fresh selling only below 1.2200. Risky traders can sue sl 1.2200 and buy. Risk of 50pips.

This image is no longer relevant

InstaForex Analyst,
انسٹافاریکس کا تجزیاتی ماہر
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
انسٹافاریکس کے ساتھ کرپٹو کرنسی کی معاملاتی تبدیلیوں سے کمائیں۔
میٹا ٹریڈر 4 ڈاؤن لوڈ کریں اور اپنی پہلی ٹریڈ کھولیں۔
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    مقابلہ میں شامل ہوں
  • چانسی ڈیپازٹ
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروائیں اور حاصل کریں$6000 مزید!
    ہم دسمبر قرعہ اندازی کرتے ہیں $6000چانسی ڈیپازٹ نامی مقابلہ کے تحت
    اپنے اکاؤنٹ میں 3000 ڈالر جمع کروانے پر موقع حاصل کریں - اس شرط پر پورا اُترتے ہوئے اس مقابلہ میں شرکت کریں
    مقابلہ میں شامل ہوں
  • ٹریڈ وائز، ون ڈیوائس
    کم از کم 500 ڈالر کے ساتھ اپنے اکاؤنٹ کو ٹاپ اپ کریں، مقابلے کے لیے سائن اپ کریں، اور موبائل ڈیوائسز جیتنے کا موقع حاصل کریں۔
    مقابلہ میں شامل ہوں
  • 30 فیصد بونس
    ہر بار جب آپ اپنا اکاؤنٹ ٹاپ اپ کریں تو 30 فیصد بونس حاصل کریں
    بونس حاصل کریں

تجویز کردہ مضامین

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.
Widget callback