Trading and Investing Forum

Go Back   Trading Forum and Blogs > Forex Trading

Thread Tools Display Modes
Old 04-28-2012, 06:07 AM
Mohammed Isah's Avatar
Mohammed Isah Mohammed Isah is offline
Technical Strategist
Join Date: Oct 2006
Location: MY
Posts: 2,233
Mohammed Isah is on a distinguished road
Default USDCAD: Weakens, Takes Out Key Support (The Week Ahead)

USDCAD: With the pair breaking below its key support located at the 0.9840 level the past week, the risk into the new week will be for USDCAD to weaken further. In such a case, its Sept 162011 low at 0.9779 level will be aimed at with a violation of there turning attention to the 0.9724 level, its Aug 31'2011 low. Below here will call for a run at the 0.9601 level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to climb back above the 1.0048/51 levels to annul its present bearishness. This will bring further gains towards the 1.0146 level. Further out, resistance resides at the 1.0250 level and then the.0317 level followed by the 1.0423 level, its Dec 142011 high. All in all, the pair remains vulnerable to the downside on further declines.
Attached Images
Mohammed Isah
Technical Strategist

Note: Note: This is part of our premium Pro Plus Plan comprising 10 currencies and 5 commodities with buy/sell entries, stop losses and price targets.See Plans & Get Started Now

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which incurs any responsibility. does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.
Reply With Quote


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

All times are GMT -6. The time now is 11:43 AM.

Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.