Hello guys!
I am going to discuss about USDCAD
views for the coming week and also a bit about the past week, so let’s start.
Last week USDCAD
was on an uptrend and stopped at the Resistance Trend line, drawn from the June
2013. Till the end of the past week we got a Bearish Gartley in daily Chart, as you guys can see in the snapshot. Another
bearish signal which we have in daily chart is Bearish Divergence
between price and momentum of the Ultimate Oscillator, Prices are moving higher
in Chart while the momentum is decreasing which means the bulls are
getting weaker and soon bears going to take control.
I recommend
a sell order for the coming week at the price level of 1.0475 or at the price
where the market start because it is possible that the market gets
a window in the opening.
Sell @ 1.0475
TP 1st: 1.0395, TP 2nd:
1.0320
SL @ 1.0516
 |
| USDCAD Technical View |
Important levels for the coming
week
|
||
Support
levels
|
Pivot
Point
|
Resistance
levels
|
1.0391
|
1.0444
|
1.0476
|
1.0360
|
1.0529
|
|
1.0307
|
1.0560
|
|
No comments:
Post a Comment