25.02.201409:18 Forex Analysis & Reviews: USD/CAD intraday technical levels and trading recommendations for February 25, 2014

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Fresh highs (around 1.1220) have been recently touched after long-time absence.

Recently, USD failed to keep its gains against CAD, and the USD/CAD pair was pushed to the downside indicating weakness of the ongoing bullish momentum.

It's important to note that the pair has an established consolidation zone between 1.0850 and 1.0960. This renders the zone as a support area that provided considerable support at retesting on February 19.

On the other hand, the nearest resistance zone is located around 1.1230-1.1250 corresponding to the 50% Fibonacci level of the bearish swing that extended between March 2009 and July 2011.

This week, an inverted hammer daily candlestick was expressed off retesting of 1.1111 indicating a possible corrective bearish impulse probably towards 1.0960 again.

The hourly chart reveals a reversal Head and Shoulders pattern at 1.1170 - 1.1200.

This pattern becomes confirmed on bearish breakdown of 1.1100 to be targeting at 1.1020-1.1000.

Bearish breakdown of the ongoing bullish channel was witnessed yesterday as well. Initial targets are located at 1.1000.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.