empty
 
 
20.08.2012 05:52 PM
USD/CAD Intraday Technical Analysis and Trading Recommendations for August 20, 2012

This image is no longer relevant

 

The USD/CAD pair movement was sluggish bearish during the previous days of consolidation which is manifested within the slightly bearish direction of the Yellow & Blue channels depicted on the chart.
Despite this prolonged sluggish bearish movement, a bullish Head & Shoulders reversal pattern is probably being formed at the current time with neck line located around 0.9898.
Consolidation above the upper limit of the Yellow channel around 0.9875 also enhances the bullish view for the USD/CAD pair to achieve the H&S pattern target at 0.9940.
Price level of 0.9900 is considered as a significant intraday resistance level corresponding to the backside of the Violet channel which needs to be broken in order to resume the bullish movement aiming at higher targets towards 0.9930 initially.
Bearish breakdown of 0.9865 currently invalidates the bullish scenario.

Summary
Urgency
Analytic
Mohamed Samy
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback