|USD/CAD : Exit of the medium term bearish channel|
--- New analysis ---
The lower band of the medium term bullish channel (purple lines) has been finaly broken on friday night, leading to the breakout of the support at 0.9934. So, a sell signal has been given. The price continues to move below its short term bearish slant (black line).
We advise to trade only short positions as far as 0.9980 is resistance. The bearish movement should pursuit towards the major supprot at 0.9889. This level rathers all last lows. Its breakout will give a strong indication on the trend of the next weeks. Next supports are at 0.9850 and 0.9812.
>In case of return above 0.9980, we will be neutral between this level and 1.0.
Analysis published by Bruno, the 11/26/2012 at 9h00 GMT+2
|Complete sheet of the pair USD/CAD - Previous USD/CAD Analysis|
|Chart of the pair USD/CAD - Timeframe 4H|
|Chart of the pair USD/CAD - Timeframe 1H|
|USD/CAD Live Chart - Timeframe : 4h|