Forexpros.com Daily Analysis - 04/04/2011

By @ibtimes on

ForexPros Daily Analysis April 04, 2011

Free webinar on ForexPros - Forex Price Action

Expert: Raul Lopez

Start: Mon, Apr 11, 2011, 09:00 CST
End: Mon, Apr 11, 2011, 10:00 CST
   
During this next webinar by Raul Lopez he will discuss Price action rules. He will also show and discuss live price action analysis.

Raúl López is a full time trader whose strategy is based on price action, all the information he needs to trade from the market itself and using an advanced application of support and resistance levels. He also trains and helps traders around the world to trade better and reach their goals as traders.During this next webinar by Raul Lopez he will discuss Price action rules. He will also show and discuss live price action analysis.

Click here to join free

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Usd/Cad fell into a recently, and is showing an impulsive personality from 0.9977 region which is still incomplete. Market is trading in wave 3), searching for a temporary bottom, which could be established around 0.9580 region, where 261.8% Fibonacci extension level of a wave 2) distance is shown. Any near-term throw-back will be only temporary, likely a corrective wave 4, before downtrend resumes.

Downtrend remains in play as long as the market trades below 0.9731 region.Why 0.9731!? Becasue we know that once wave 4) occurs, pair must not trade into a terrritoryx of a wave 1).

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Forex Trading analysis written by Gregor Horvat for Forexpros.

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