empty
 
 
16.05.2012 05:37 PM
USD/CAD Intraday Technical Analysis and Trading Recommendations for May 16, 2012

This image is no longer relevant

This image is no longer relevant

The USD/CAD pair's 4H Chart revealed the strong bearish rejection of price level 1.0050 which pushed the USD/CAD pair to the downside towards 0.9990.

The lower limits of the Violet & Blue channels at 0.9990 were tested providing strong support for the USD/CAD pair.

Bullish rejection towards 0.9990 allowed the USD/CAD to initiate a new bullish swing towards 1.0125 establishing a significant support level at 1.0050.

The 1Hour chart of the USD/CAD isn't quite clear as the pair managed to breakthrough the upper limits of its movement channels then came back to trade inside them.

Price Level 1.0033 is important on the 1HChart as it corresponds to the lower limit of the Violet channel & the mid-line of the Yellow channel where price action should be watched for a possible BUY entry.

It's important to note that the pair has an Intraday Resistance level at 1.0090 which corresponds to the upper limit of the Yellow channel.

If you like my articles, please vote for me in Analyst of the Year Contest by clicking here .

Mohamed Samy,
Especialista em análise na InstaForex
© 2007-2026
Summary
Urgency
Analytic
Mohamed Samy
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $8000 mais!
    Em Março nós sorteamos $8000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback