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Analysis updated since 13 h
USD/CAD - US Dollar Canadian Dollar
Short term (Intraday)
1,1047. USD CAD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The downtrend should continue to gather momentum.
We could take a short position at 1,1050. We will put the stop loss above 1,1100 (-50 pips). The targets are 1,1000 (+50 pips, risk/reward 1:1), 1,0950 (+100 pips, risk/reward 1:2) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.
- Resistances
- 1,1085 - 1,1125
- Supports
- 1,1020 - 1,0950
- Long term chart
- USD/CAD - US Dollar Canadian Dollar
updated 20 juil 2009 12:35 GMT
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