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26.03.2012 12:43 PM
USD/CAD Intraday Technical Analysis and Trading Recommendations for March 26, 2012

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According to the USD/CAD 1H Linear Regression Channel Chart :

Today the USD/CAD has managed to break the lower limit of the Yellow & Violet channels. Both of them are bullish so, the breakdown is considered as a bearish signal.

The backside of the lower limit of the broken channels at 0.9995 is now acting as Intraday resistance for the USD/CAD pair.

Also it is possible that Head and Shoulders reversal pattern will be formed on the chart, providing a low-risk SELL entry at the price level of the right shoulder around 0.9997-1.0007 which becomes confirmed with 4H closure below 0.9964.

Final Target Level for this H&S pattern will be located at 0.9900, while SL should be located above 1.0030.

Summary
Urgency
Analytic
Mohamed Samy
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