fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: USD/CAD Daily Outlook  Mon Mar 18, 2013 11:10 am | |
| USD/CAD Daily Outlook Daily Pivots: (S1) 1.0172; (P) 1.0201; (R1) 1.0222; More... USD/CAD recovers today but still, with 1.0295 minor resistance intact, correction from 1.0341 could extend lower. Below 1.0180 will target 55 days EMA (now at 1.0101) and possibly below. Though, above 1.0295 will indicate that the correction is completed and will flip bias back to the upside for 1.0341 and above. In the bigger picture, price actions from 1.0656 are viewed as a correction pattern, no change in this view. Current development affirmed the case that such correction has completed at 0.9633 already and medium term rally from 0.9406 is resuming. Focus is back to 1.0445 resistance and decisive break there will confirm our bullish view and target 38.2% retracement of 1.3063 to 0.9406 at 1.0803. In any case, we'll stay cautiously bullish as long as 1.0099 support holds.  | |
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