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USD/CAD - US Dollar Canadian Dollar, American Session - 21/11/08

21 Nov, 2008 @ 05:45 am EST

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1,2272. USD CAD is in an uptrend supported by 1H exponential moving averages. USD CAD is in a consolidation after the last bullish movement. The volatility is high. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in 1,2640 / 1,2990 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,2820 - 1,2990
Supports: 1,2740 - 1,2640

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

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