|USD/CAD : Test of the annual lows expected|
|--- Follow up analysis ---|
The pair USD/CAD has continued its bearish movement into its bearish channel in h1 (purple lines) and the breakout of 0.98 (annual low of May 1st) has been validated (new sell signal). The price is now going to test the next support at 0.9750.
In h4, the pair is now moving into a new bearish channel (black lines). The price is currently close of the lower band. We continue to advise short positions as far as 0.9850 is resistance. The breakout of 0.9750 will give a new sell signal and will open the way towards 0.97.
In case of return above 0.9850, we will be neutral between this level and 0.99.
Analysis published by Bruno, the 09/11/2012 at 8h50 GMT+2
|Complete sheet of the pair USD/CAD - Previous USD/CAD Analysis|
|Chart of the pair USD/CAD - Timeframe 4H - Zoom in :|
|Chart of the pair USD/CAD - Timeframe 1H|
|USD/CAD Live Chart - Timeframe : 4h|