USD/CAD : Trend reversal or simple correction?
--- New analysis ---
The correction finaly continued on the pair USD/CAD who got out of its medium term bearish channel (black lines) and is currently testing the resistance at 0.9850. The movement is leading by a bullish channel in h1 (blue lines).
We are neutral at this moment between 0.98 and 0.9850. We advise to wait an exit of this range to take position:
- Long above 0.9850. Only the breakout of this level will indicate a trend reversal. The first objective will be set at 0.99
- Short in case of return below 0.9775. We will then expect a new test of 0.9719.
Analysis published by Bruno, the 09/27/2012 at 8h45 GMT+2
Chart of the pair USD/CAD - Timeframe 4H
Chart of the pair USD/CAD - Timeframe 1H
|USD/CAD Live Chart - Timeframe : 4h|
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