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Technical analysis for the USDCAD on 26.08.2015

The USDCAD has held above 1.3290 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 125 pips Max. 1.3450

Min. 1.3215

usdcad9

Bears attempted to break below 1.3210 support again on yesterday’s session. The test of the barrier was followed by a short-term rebound up.

False breakout of 1.3210 support allowed the bulls top break and hold above the resistance of 1.3290, which is now acting as strong support.

The re-test of the 1.3290 mark will most likely trigger consolidation, followed by the continuation of the bullish trend. Potential growth targets will be situated at 1.3355, 1.3400, 1.3450.

Alternative scenario: the breakout of the 1.3290 support will be a signal for further correction down, which will open the way to 1.3215.

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 has held above 1.3290 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 125 pips Max. 1.3450

Min. 1.3215

usdcad9

Bears attempted to break below 1.3210 support again on yesterday’s session. The test of the barrier was followed by a short-term rebound up.

False breakout of 1.3210 support allowed the bulls top break and hold above the resistance of 1.3290, which is now acting as strong support.

The re-test of the 1.3290 mark will most likely trigger consolidation, followed by the continuation of the bullish trend. Potential growth targets will be situated at 1.3355, 1.3400, 1.3450.

Alternative scenario: the breakout of the 1.3290 support will be a signal for further correction down, which will open the way to 1.3215.

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!



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Number of comments: 1
  • Tomphson_m
    • #

    I'll consider this analysis. Who knows, maybe it's a good opportunity and I should use it.


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