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    USD/CAD Technical Analysis and Trading Recommendations for May 1 - 2, 2012

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    In Asia, Japan will release data on 30-y bond auction and the US is expected to release economic data on natural gas storage, factory orders m/m, the revised unit labor costs q/q, the revised nonfarm productivity q/q, unemployment claims, and Challenger job cuts y/y. So, there is a strong probability that the USD/JPY pair will move with low to medium volatility during the day.
    TODAY TECHNICAL LEVELS:
    Resistance. 3: 120.32.
    Resistance. 2: 120.09.
    Resistance. 1: 119.86.
    Support. 1: 119.57.
    Support. 2: 119.34.
    Support. 3: 119.10.

    Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

    Mourad El Keddani neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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