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USD/CAD Emerging Signal

admin — Mon, 26 Sep 2011 21:35:51 +0000

We can see a clear breach of 61.8% Fibonacci correction at 1.0300, affected by trading outside the descending channel as shown above, where the pair consolidated above 0.9970-1.0010. Now, we expect the upside movement to continue towards 76.4% Fibonacci correction at 1.0510, while our positive expectations remain strong as long as the pair is stable above the mentioned correction.

The trading range for this week is among the major support at 0.9970 and the major resistance at 1.0690

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 1.0290, 1.0225, 1.0185, 1.0125, 1.0085
Resistance: 1.0375, 1.0400, 1.0500, 1.0550, 1.0690

Recommendation: Based on the charts and explanations above, we recommend buying the pair around 1.0290, and take profit in stages at (1.0400, 1.0510) and stop loss below 1.0185 might be appropriate

USD/CAD Emerging Signal

admin — Thu, 22 Sep 2011 22:14:51 +0000

The pair moved strongly to the upside yesterday breaching critical resistance areas and most importantly 1.000 psychological barrier followed by 1.0100. This upside move confirms the return of trading ideally within the main ascending channel shown above, signaling that the pair will resume the intraday upside move today. Some fluctuations and volatility is expected today due to the negative signals on momentum indicators and the pair might retest areas of 1.0085 and maybe extend towards 1.0025 before moving towards targets that start from 1.0290.

The trading range for today is among the major support at 0.9910 and the major resistance at 1.0375.

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 1.0085, 1.0025, 1.0000, 0.9910, 0.9850
Resistance: 1.0125, 1.0185, 1.0260, 1.0290, 1.0375

Recommendation Based on the charts and explanations above we recommend buying the pair around 1.0085 targeting 1.0290 and stop loss with four-hour closing below 1.0000 might be appropriate

USD/CAD Emerging Signal

admin — Wed, 21 Sep 2011 23:35:33 +0000

The pair returned to trade again around the previously breached ascending support level; however the movement is limited between 0.9910 from below and 0.9970 from above. Stability above 0.9970 could negate the intraday downside movement, and in result negating our weekly expectations in general. Stochastic is turning negative, which suggests another attempt for a downside movement. Stability above the Exponential Moving Averages 20 and 50 and above 0.9910 along with stability below 0.9970 drive us to remain neutral today.

The trading range for today is among the major support at 0.9710 and the major resistance at 1.0160

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9865, 0.9850, 0.9825, 0.9780, 0.9710
Resistance: 0.9950, 0.9970, 1.0010, 1.0080, 1.0125

Recommendation Based on the charts and explanations above, we remain neutral awaiting more confirmations

USD/CAD Emerging Signal

admin — Tue, 20 Sep 2011 01:58:08 +0000

After breaching the upside trend’s main support and forming the bearish technical structure, the pair continues to trade with a negative bias. Despite the upside correction seen today, the pair is stable below the exponential moving averages and the previously breached main support, which turned into resistance. The pair could trigger an upside correction to retest the levels around 0.9910, but consolidation below 1.0010 should support the general downside movement, while consolidation below 0.9950 should add more confirmations to our expectations to remain valid.

The trading range for this week is among the major support at 0.9635 and the major resistance at 1.0125

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9830, 0.9800, 0.9760, 0.9705, 0.9635
Resistance: 0.9910, 0.9950, 0.9970, 1.0010, 1.0085

Recommendation Based on the charts and explanations above, we recommend selling the pair around 0.9900, and take profit in stages at (0.9800, 0.9705) and stop loss above 0.9970 might be appropriate.

USD/CAD Emerging Signal

admin — Wed, 14 Sep 2011 19:09:28 +0000

The pair approaches the ascending channel’s main support at 0.9840 as shown above, while the pair is rebounding to the upside, supported by the positivity seen on momentum indicators as shown over four-hour basis. Therefore, we expect an intraday upside move today, targeting the psychological barrier at 1.0000 and then 1.0125, while consolidation above the ascending support at 0.9840 is required for our positive expectations to prevail.

The trading range for today is among the major support at 0.9770 and the major resistance at 1.0185

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9900, 0.9865, 0.9850, 0.9830, 0.9770
Resistance: 0.9950, 0.9970, 1.0010, 1.0080, 1.0125

Recommendation Based on the charts and explanations above, we recommend buying the pair above 0.9865 and take profit in stages at (1.0010 and 1.0125) and stop loss with 4-hour closing below 0.9770 might be appropriate today.

USD/CAD Emerging Signal

admin — Tue, 13 Sep 2011 18:26:22 +0000

The pair declined as we expected yesterday, which forced the pair to face the psychological barrier at 1.0000 and the resistance at 1.0010 along with the overbought signs seen on Stochastic, but today, Stochastic entered oversold areas, while the pair is currently approaching the critical support at 0.9865 as stability above this level suggests an intraday upside movement. Consolidation above the critical ascending support at 0.9830 as shown above is necessary to keep our positive expectations valid.

The trading range for today is among the major support at 0.9770 and the major resistance at 1.0185

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9900, 0.9865, 0.9850, 0.9830, 0.9770
Resistance: 0.9950, 0.9970, 1.0010, 1.0080, 1.0125

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9910, and take profit in stages at (1.0010 and 1.0125) and stop loss with 4-hour closing below 0.9770 might be appropriate today.

USD/CAD Emerging Signal

admin — Mon, 12 Sep 2011 21:43:14 +0000

The pair rebounded sharply to the upside reaching now around the psychological barrier at 1.0000, however a breach of this level could support the pair to test the level of 1.0090, which represents 127.2% Fibonacci correction of the downside movement which started at 1.0008 and ended at 0.9725. The upside move is still valid for this week, while a breach of the several resistances between 1.0010 and 1.0090 should support the pair to test the level of 1.0185, but a failure should trigger a downside correction.

The trading range for this week is among the major support at 0.9710 and the major resistance at 1.0260

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9950, 0.9910, 0.9865, 0.9830, 0.9770
Resistance: 1.0010, 1.0090, 1.0125, 1.0185, 1.0260

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9950, and take profit in stages at (1.0090 and 1.0185) and stop loss with 4-hour closing below 0.9830 might be appropriate.

USD/CAD Emerging Signal

admin — Wed, 07 Sep 2011 17:12:40 +0000

The pair is currently forming the awaited downside correction, where a retest of levels between 38.2% Fibonacci correction and 0.9820 is possible. Consolidation above 0.9770 supports the upside move to extend and attempt to breach the several resistances above, such as 0.9910. A breach of 0.9710 should negate our intraday positive expectations.

The trading range for today is among the major support at 0.9710 and the major resistance at 1.0125

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9865, 0.9820, 0.9770, 0.9710, 0.9635
Resistance: 0.9910, 0.9955, 0.9990, 1.0010, 1.0125

Recommendation Based on the charts and explanations above, our opinion is buying the pair around 0.9820, and take profit in stages at (0.9970 and 1.0080) and stop loss with 4-hour closing below 0.9710 might be appropriate today

USD/CAD Emerging Signal

admin — Thu, 01 Sep 2011 13:59:09 +0000

The pair traded yesterday in sideway range around 38.2% Fibonacci level, forcing Stochastic to turn negative and then it provided negative crossover today. The downside correctional movements are still available, while reaching 50% or maybe 61.8% Fibonacci at 0.9710 and 0.9635 respectively is still possible. Consolidation below EMA 20 and 50 and below the main resistance at 0.9865 support our expectations.

The trading range for today is among the major support at 0.9635 and the major resistance at 0.9970

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9710, 0.9680, 0.9635, 0.9600, 0.9545
Resistance: 0.9780, 0.9825, 0.9865, 0.9910, 0.9970

Recommendation Based on the charts and explanations above our opinion is selling the pair around 0.9780, and take profit in stages at (0.9710 and 0.9635) and stop loss with 4-hour closing above 0.9865 might be appropriate

USD/CAD Emerging Signal

admin — Thu, 01 Sep 2011 00:24:14 +0000

The pair is still hovering around 38.2% Fibonacci correction, where this level failed to support the pair to take a clear upside movement. Furthermore, the exponential moving averages 20 and 50 prevent the extension of the upside move, in addition, the critical resistance of 23.6% Fibonacci correction at 0.9865 supports the downside movement. Therefore, we hold onto our negative expectations as they are, however, consolidation below the mentioned resistance is necessary to ahieve this scenario.

The trading range for today is among the major support at 0.9635 and the major resistance at 0.9970

The short-term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Support: 0.9770, 0.9735, 0.9700, 0.9680, 0.9635
Resistance: 0.9825, 0.9865, 0.9910, 0.9970, 1.0010

Recommendation Based on the charts and explanations above our opinion is selling the pair around 0.9825, targeting 0.9635 and stop loss with 4-hour closing above 0.9910 might be appropriate.