fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for CAD  Mon Oct 28, 2013 10:17 am | |
|  Technical Analysis for CAD The pair stabilized above 1.0375 levels indicating the possibility of extending the upside move during this week. But momentum indicators are showing overbought signals so we expect some bearish correction. Despite the possible correction, stabilizing above key support level of the ascending channel and stabilizing above 1.0375 forces us to hold on to our positive expectations especially that momentum indicators support these expectations. Support: 1.0400, 1.0375, 1.0335, 1.0300, 1.0270 Resistance: 1.0455, 1.0500, 1.0530, 1.0565, 1.0595 Recommendation Based on the charts, buy the pair above 1.0400 targeting 1.0455, 1.0530 then 1.0610 and stop-loss at four-hour closing below 1.0335 | |
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