USD/CAD : Trend reversal or simple correction?
--- Follow up analysis ---
The pair USD/CAD has choosen its way for the trend reversal. Indeed, yesterday, the price broke the resistance at 0.9850, giving us a buy signal. The price is now moving into a medium term bullish channel (purple lines) and is moving towards a pullback on the major support at 0.9850.
We contine to advise long positions as far as 0.9816 is support. The bullish movement should pursuit towards the resistance at 0.9912 and 0.9950 in extension.
In case of return below 0.9812, we will be neutral between this level and 0.9775.
Analysis published by Bruno, the 10/04/2012 at 9h15 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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