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USD/CAD - US Dollar Canadian Dollar, European Session - 17/11/08

16 Nov, 2008 @ 10:27 pm ET | written by Mataf


1,2374. USD CAD is in a consolidation after the last bullish movement. The volatility is high. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a resistance below 1,2420 (46 pips). If the resistance is broken then the target will be 1,2800 (426 pips).
We are waiting for a break of the resistance to take a long position.
Resistances
1,2420 - 1,2500
Supports
1,2320 - 1,2090

For more forex information, go to www.mataf.net

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