empty
08.07.2011 03:28 PM
USD/CAD Technical Analysis & Bearish View - July 8, 2011

This image is no longer relevant

The USD/CAD currency pair is in a long-term down trend.

The period extending from May - End of June 2011 the pair passed in a period of retracement.

This retracement was in the form of bullish channels.

Recently the pair has broken both illustrated bullish channels Also breaking the last 6 weeks' lows.

This image is no longer relevant

The lower limit of the broken channel was a good SELL entry now the pair is facing support at 0.9580.

We can resume our short positions either from 0.9640 or after 4H closure below 0.9580.

TP should be 0.9580, 0.9520 then 0.9460.

SL should be placed above 0.9777.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/CAD Forecast for May 16, 2025

Over the past four days, the price has failed to break through the resistance level at 1.4010, not that it made much of an attempt. Yesterday, the price reversed from

Laurie Bailey 05:07 2025-05-16 UTC+2

Bitcoin Forecast for May 16, 2025

Bitcoin's seven-day consolidation above the 102,698 level appears to be coming to an end. We await the final confirmation from the Marlin oscillator, which needs to bounce off the lower

Laurie Bailey 05:07 2025-05-16 UTC+2

Trading Signals for BITCOIN for May 15-19, 2025: sell below $103,600 (+1/8 Murray - 21 SMA)

If Bitcoin fails to break above 103,700, a further technical correction is expected. So, the price could reach the psychological level of $100,000 and even reach the bottom

Dimitrios Zappas 16:51 2025-05-15 UTC+2

Trading Signals for GOLD for May 15-19, 2025: buy above $3,222 or sell below $3,203 (200 EMA - 5/8 Murray)

Early in the American session, gold is trading around 3,195, below the 5/8 Murray line and below the 200 EMA and the 21 SMA, with a strong bullish bias. During

Dimitrios Zappas 16:50 2025-05-15 UTC+2

Forex forecast 15/05/2025: EUR/USD, GBP/USD, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:22 2025-05-15 UTC+2

Forecast for EUR/USD on May 15, 2025

On Wednesday, the EUR/USD pair rose toward the resistance zone of 1.1265–1.1282, rebounded from it, and reversed in favor of the U.S. dollar, which managed to gain about 80 points

Samir Klishi 11:00 2025-05-15 UTC+2

Forecast for GBP/USD on May 15, 2025

On the hourly chart, the GBP/USD pair climbed to the resistance zone of 1.3344–1.3357 on Wednesday, rebounded from it, and began a downward move toward the 100.0% Fibonacci level

Samir Klishi 10:56 2025-05-15 UTC+2

Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Thursday May 15, 2025

From what is seen on the daily chart, the Exotic USD/IDR currency pair appears to have a Bearish 123 pattern followed by the appearance of 2 Bearish Ross Hook (RH)

Arief Makmur 06:46 2025-05-15 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 15, 2025

If we look at the 4-hour chart of the Nasdaq 100 index moving above the WMA (21) which has a slope that is going upwards, indicating that currently Buyers

Arief Makmur 06:46 2025-05-15 UTC+2

EUR/USD Forecast for May 15, 2025

On Wednesday, the euro managed to rise to the target level of 1.1266 (the lows from April 15 and May 1), but in the absence of external support (S&P

Laurie Bailey 04:40 2025-05-15 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.