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- Dow Jones
- US T.Notes
Last Update 17/05/2013 - 12:44pm
AnalysisUSDCAD – Although USDCAD posted morning gains levels above the daily Ichimoku Cloud were rejected for the 2nd day in succession but dip buying from this level resulted in a positive daily performance. This upward pressure has continued overnight and the previous high of 1.0218 has been broken. There is no clear indication that the rally is stalling. However, we have the 78.6% extension level at 1.0233 that ‘lines up’ with an intraday 161.8% extension level, effectively forming a bearish Gartley pattern. In view of these facts our call is a Bearish Bias – Sell at 1.0233 stop at 1.0261. The profit targets will be: 1.0200, 1.0170 and 1.0150
Resistance levels are: 1.0233-6, 1.0261 and 1.0293
Not sure about the analysis? Learn how to trade our signals >Disclaimer: This is a promotional sample of our financial analysis. It is provided so that potential clients can see the detail and formation of the information we provide. It is not a recommendation to buy or sell, nor does it constitute advice and you should not act upon this information. Hypothetical and simulated performance results do not represent actual trading, may not account for actual market factors and have many limitations. You may not achieve similar profits or results. No representation is being made with respect to performance, profits or results.
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