Overview :
- The trading recommendations today will give its effect in the short term. Also, we should remember that history will probably repeat itself at this level again. Thus, according to the previous events, the USD/CAD pair is going to move between 1.0960 and 1.0870. In particular, the double bottom has set at the price of 1.0858 and the support is represented at the same level in H1 chart. Consequently, the trend may fails to close below the strong support at 1.0858. Thereupon, buy below the level of 1.10850 with the first target at 1.0900, then it will be continued towards 1.0960 in order to test this strong support.
Daily key level s :
- Major resistance: 1.1050
- Minor resistance: 1.0960
- Pivot point: 1.0910
- Minor support: 1.0858
- Major support: 1.0780
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CAD for May 8, 2014 . Thanks for your support on Technical analysis of USD/CAD for May 8, 2014
No comments:
Post a Comment