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USD/CAD - US Dollar Canadian Dollar, European Session - 08/09/08

07 Sep, 2008 @ 10:18 pm EST

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1,0570. USD CAD is in a range between 1,0550 and 1,0730. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The price should find a support above 1,5050. If the support is broken then the target will be 1,0440. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,0620 - 1,0730
Supports: 1,0550 - 1,0440

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USD/CAD - US Dollar Canadian Dollar, European Session - 08/09/08

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