Forex4you - Analytics

Forex4you

514.75 7.00/10
57% of positive reviews
Real

Technical analysis for the USDCAD on 18.06.2015

The USDCAD: long consolidation has turned bearish

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 110 pips Max. 1.2285

Min. 1.2130

usdcad5

The price consolidated below strong resistance of 1.2355 for five days and then bounced down at increased volume and breached the ascending trend line at 1.2275.

Intermediate decline target will be found at the last week’s low of 1.2200. Short-term consolidating is likely to commence after the 1.2200 support test.

If today bears manage to pass 1.2200 support, the next target will be situated at 1.2130.

Alternative scenario: corrective growth into 1.2285 resistance.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The USDCAD: long consolidation has turned bearish

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 110 pips Max. 1.2285

Min. 1.2130

usdcad5

The price consolidated below strong resistance of 1.2355 for five days and then bounced down at increased volume and breached the ascending trend line at 1.2275.

Intermediate decline target will be found at the last week’s low of 1.2200. Short-term consolidating is likely to commence after the 1.2200 support test.

If today bears manage to pass 1.2200 support, the next target will be situated at 1.2130.

Alternative scenario: corrective growth into 1.2285 resistance.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree