Forex4you - Analytics

Forex4you

514.75 7.25/10
57% of positive reviews
Real

Technical analysis for the USDCAD on 28.08.2015

The USDCAD: bears broke support at 1.3215

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 160 pips Max. 1.3355

Min. 1.3020

usdcad11

Correction down, which began from 1.3355 resistance, continues. Bears broke support of 1.3215 and held below the mark, which in a short-term should allow them to test the inclined support at 1.3140.

The test of the 1.3140 mark will most likely take place amid low volumes.

If price consolidates after the test of the inclined 1.3140 support, we’ll be expecting the rebound up towards the next targets at 1.3215, 1.3290, 1.3355.

Alternative scenario: the breaking of the 1.3140 support will allow bears to continue the downside correction. The closest decline targets in this case will be situated at 1.3100, 1.3020.

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

The USDCAD: bears broke support at 1.3215

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 160 pips Max. 1.3355

Min. 1.3020

usdcad11

Correction down, which began from 1.3355 resistance, continues. Bears broke support of 1.3215 and held below the mark, which in a short-term should allow them to test the inclined support at 1.3140.

The test of the 1.3140 mark will most likely take place amid low volumes.

If price consolidates after the test of the inclined 1.3140 support, we’ll be expecting the rebound up towards the next targets at 1.3215, 1.3290, 1.3355.

Alternative scenario: the breaking of the 1.3140 support will allow bears to continue the downside correction. The closest decline targets in this case will be situated at 1.3100, 1.3020.

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