DislikedHi Traders
I’m not bullish, neither bearish.
I would like to point out that we’re approaching a very important & interesting support/resistance area @0.9920.
First attempt to break it failed...
Both bearish and bullish scenarios possible now and next couple of hours should bring solution whether today’s bullish movement was long-term trend reversal or just a correction of the fifth and last wave of downtrend from 1.0025 last week peak.
Attachment ...Ignored
- #443
- Sep 21, 2011 6:21am Sep 21, 2011 6:21am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #445
- Sep 21, 2011 9:52am Sep 21, 2011 9:52am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
Have I got something on my face, SOLDIER?
- #450
- Sep 26, 2011 4:12am Sep 26, 2011 4:12am
- Joined May 2010 | Status: Simple chart is the best... | 2,015 Posts
Good Morning Traders
Here’s my quick review of USDCAD at 11.30am (London)
Monday London session: visible signs of consolidation.
All pairs seem to be tired of last week rally.
The steam has evaporated and lack of momentum seems to draw the pair down to its previous support/resistance area.
At 1.0370 we have a congestion of few Fibo levels, Fibo extensions and S/R… and if we won’t be hit by any breaking news, USDCAD should make some nice retracement at this point.
It’s also good time for cashing out profits for last week bulls…
Weekly and daily charts though have generated strong bullish signals so I think its reversal would be only a corrective movement.
With Fibonacci extension tool the target area appears to be to be slightly below 1.1000 zone.
Pretty "attractive" as if scenario fulfils we can cash out a massive 10% on one trade!
I know it’s too early for such a long forecast but with its bullish signals on weekly and daily it seems to be possible.
But for now I am looking for SHORT entry to grab few pips…
Any comments welcomed
Here’s my quick review of USDCAD at 11.30am (London)
Monday London session: visible signs of consolidation.
All pairs seem to be tired of last week rally.
The steam has evaporated and lack of momentum seems to draw the pair down to its previous support/resistance area.
At 1.0370 we have a congestion of few Fibo levels, Fibo extensions and S/R… and if we won’t be hit by any breaking news, USDCAD should make some nice retracement at this point.
It’s also good time for cashing out profits for last week bulls…
Weekly and daily charts though have generated strong bullish signals so I think its reversal would be only a corrective movement.
With Fibonacci extension tool the target area appears to be to be slightly below 1.1000 zone.
Pretty "attractive" as if scenario fulfils we can cash out a massive 10% on one trade!
I know it’s too early for such a long forecast but with its bullish signals on weekly and daily it seems to be possible.
But for now I am looking for SHORT entry to grab few pips…
Any comments welcomed
Read Charts - Not Papers
- #451
- Sep 26, 2011 7:52am Sep 26, 2011 7:52am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #453
- Sep 26, 2011 10:16pm Sep 26, 2011 10:16pm
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #454
- Sep 27, 2011 2:16am Sep 27, 2011 2:16am
- Joined May 2010 | Status: Simple chart is the best... | 2,015 Posts
Wake up Canadian Bears !!!
Don’t know why USDCAD finds it so difficult to break thru 23,6 Fibonaci @ 1.02300
It’s not a time yet for bears to fall asleep!!!
The pair has formed a strange downtrend channel so as long as price stays in the channel I am favoring downward scenario.
Loads of bulls stop loss orders below 1.02300 so if broken price can quickly move to another Fibo level @ 1.01400
That’s what I hope and pray for….
Cheeerssss…
(30M chart this time)
Don’t know why USDCAD finds it so difficult to break thru 23,6 Fibonaci @ 1.02300
It’s not a time yet for bears to fall asleep!!!
The pair has formed a strange downtrend channel so as long as price stays in the channel I am favoring downward scenario.
Loads of bulls stop loss orders below 1.02300 so if broken price can quickly move to another Fibo level @ 1.01400
That’s what I hope and pray for….
Cheeerssss…
(30M chart this time)
Read Charts - Not Papers
- #456
- Sep 27, 2011 4:53am Sep 27, 2011 4:53am
- | Joined Aug 2009 | Status: I support AC Milan and Arsenal | 1,009 Posts
- #458
- Sep 28, 2011 3:51am Sep 28, 2011 3:51am
- Joined May 2010 | Status: Simple chart is the best... | 2,015 Posts
Currently time: 0613 EST
Current price: 1.02301
Interesting sell volume at 1.02441 detected.
If next hour, same/increase sell volume at this level, go SHORT, target 50-70 pips. EAP
I am bit confused by charts today. Next target could be 1.0150. (PINK LINE)
That will be very important level to test.
If broken we can see further free falling to parity, which I think will be too difficult to break and it could be good TAKE PROFIT zone.
I am SHORT and hesitating whether to close @ 1.0150 or let it go...
Read Charts - Not Papers