USD/CAD
The pair has been in a down trend from the 1.0875 levels. The pair was rejected at 34Hr SMA and move below the previous swing low. Today in Asia's session, the pair exactly met the 34 Hr SMA at 1.0866 (23.0 fib levels) and started trading below that. On the down side, it has support at 1.0858 (21 Hr Sma) and 1.0850 (35 h Dema). Once break below the 1.0848 the pair will face selling. The pair favors to buy on the dips. On the other side, if it starts trading above the descending trend line, it can move up to 1.0875,1.0880, 1.09 and 1.0910 levels.
We prefer to buy above the 1.0870 levels, and strong momentum is above 1.0882 levels.
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 June 18, 2014 . Thanks for your support on Technical analysis of USD/CAD for June 18, 2014
No comments:
Post a Comment