Dollar/Canada

[sabanoor]

Dollar/Canada
Last week's range: 1.0600 � 1.0837 (Down)
Previous range: 1.0778 � 1.0901 (Down)
Dollar/Canada made another aggressive decline last week to reach yet another 30-year low. It is severely oversold, but don�t cover shorts unless there is confirmation of a bullish reversal.
Initial support is at 1.0483 from a Gann extension level. Strong support follows at 1.0430 from a long-term Gann retracement and at 1.0415 from a channel line. Distant support looms at 1.0245 from a Fibonacci extension level.
Immediate resistance is at 1.0690. The pair then has resistance at 1.0755. Next level is pegged at 1.0905. Distant resistance is now seen at 1.1065.
NEAR-TERM: Bearish
MEDIUM-TERM: Bearish
LONG-TERM: Bearish

[ngurah]

� Resistance: 1.0570
� Support: 1.520
� The USD/CAD continued to tumble, heading back to its thirty year low at 1.0470 last reached on Friday. For almost three weeks the USD/CAD price action was tightly range bound until recently, when the pair conformed to its longer term downward trend.

Sell 1.5440 SL 1.0570 TP 1.500sm_smile

[kedoose]

The dollar against the Canadian Dollar used the dollar's weakness to move in a bearish pattern towards the major support level at 1.0520s, this move let the technical parameters adjust to show the downside wave again.

The trading range for today will be between the key resistance at 1.0600 and the key support at 1.0500.


The general trend is down as far as 1.0850 remains intact, targets will be at 1.0478 and 1.0320.





Support 1.0530 1.0515 1.0485 1.0462 1.0437
Resistance 1.0560 1.0580 1.0618 1.0630 1.0660
Recommendation
We expect selling USD

[eddy_eslam]

thanks to u alot

[Mohsen]

The dollar against the Canadian Dollar searched for the downside movement and found it until the key support level at 1.0540. This move affected the technical indicators to show the downside potential in the day ahead.
The trading range for today will be between the key resistance at 1.0630 and the key support at 1.0420.
The general trend is down as far as 1.0940 remains intact, targets will be at 1.0300 and 1.0200.

[Resolve]

This topic is being updated for further discussions...

[Resolve]

This topic is being updated for further discussions...