fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for CAD  Tue Jan 21, 2014 1:31 pm | |
|  Technical Analysis for CAD USDCAD has been trading around this area for the past few days, and thus the technical picture hasn’t changed much, as price broke the rising trend line for the latest strong bullish wave, to enter a phase of sideways consolidation below the psychological level at 1.1000. Meanwhile, RSI continues to form a divergence. Accordingly, the chances of a downside correction remains valid as long as below 1.1000 level. Support: 1.0920, 1.0880, 1.0850, 1.0820, 1.0800 Resistance: 1.0960, 1.0995, 1.01025, 1.1050, 1.1080 Recommendation Short below 1.0970, targets at 1.0900 and 1.0850. Stop loss above 1.1020 | |
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