General overview for 04/04/2014 11:05 CET
There is not much of a movement in this pair as traders are waiting for the NFP data. The market is still range bound, but there is a building bullish divergence on momentum oscillator so the upside breakout might be strong.
Support/Resistance:
1.0975 - Technical Support
1.1000 - Intraday Support
1.1076 - Intraday Resistance
1.1090 - Weekly Pivot
1.1104 - 1.1121 - Technical Resistance
1.1182 - WR1
Trading recommendations:
-for a downside breakout - Sell stop orders should be opened from the level of 1.0999 with SL above the level of 1.1040 and TP at the level of 1.0936 with a possible downside extension.
-for an upside breakout - Buy stop orders should be opened from the level of 1.1151 with SL below the level of 1.1000 and TP at the level of 1.1104 with a possible upside extension to the levels of 1.1121 and 1.1182.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CAD for April 4, 2014 . Thanks for your support on Technical analysis of USD/CAD for April 4, 2014
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