Technical analysis of USD/CAD for April 29, 2014 Trend News

Forecast :

• According to the previous events, the USD/CAD pair has still been trapped between 1.1070 and 1.0960.


• Strong resistance will be formed at the level of 1.1120 providing a clear signal for sell deals with the target seen at 1.9010.


• Stop-loss is to be placed above 1.1160.


• Strong level (support) will be formed at the level of 1.0910 providing a clear signal for buy deals with the target seen at the 1.1070 level.


• Stop-loss is to be placed below the level of 1.0858. This level is representing the double bottom in the H1 chart.

Notes :

• The double top will be set at the level of 1.1068.


• We expect a range of 54 pips today.


• But it should be noted that the risk of 54 4 pips must make a profit of 81 pips.


• Volatility: 85.81. Therefore, the market indicates the lower volatility.


• The value of 50% Fibonacci retracement levels is 1.1070 (for confirming for the bullish market).

The material has been provided by InstaForex Company - www.instaforex.com



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