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09.04.201210:26 Forex Analysis & Reviews: USD/CAD Survey according to the Point and Figure Charting for April 9, 2012

Long-term review

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Having overcome the strong resistance level 0.999 the pair provided the strong signal for Buy-deals and opened the way to the point 1.005.

The ascending movement continued to the resistance level 1.012, from where the descending movement was resumed.

Presently the main target for sellers is seen at the support level 0.992 where the main line of the ascending trend is drawn. In case it has been passed through, the main tendency will change to descending one and the way to the point 0.988 will open.

Considering the quite long O column, today the ascending movement is expected to resume towards the resistance level 1.012.

As long as the main tendency remains uprising, today it is recommended to buy the pair with first target seen at the 1.010 level.

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