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USD/CAD - US Dollar Canadian Dollar, American Session - 19/11/08

19 Nov, 2008 @ 06:07 am ET | written by Mataf


1,2378. USD CAD is in a range between 1,2200 and 1,2420. The volatility is low. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,2420 (42 pips). The price should continue to move in Bollinger bands. If the resistance is broken then the target will be 1,2800 (422 pips).
We are waiting for a break of the resistance to take a long position.
Resistances
1,2420 - 1,2500
Supports
1,2290 - 1,2090

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

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