Positional recommendation on USD/CAD for Septwmber 18, 2014
September 18, 2014 7:45 am
The pair managed to close above 20Wsma on a closing basis, but has made a double top this week at the 1.11 levels. The pair recovered half of its losses. Currently, the pair is trading at the 1.1014 level. Today, the pair opened with a bullish note trading higher. The pair has made strong opening today, so it opened above the previous close. The pair breached a one-month trend line. A daily close above the upper end of the triangle provides 100-200 (1.1150-1.12) pips in the near term with strong resistance 1.11 levels.
Support 1.0970 1.0934 1.0927
The material has been provided by InstaForex Company – www.instaforex.com
The pair managed to close above 20Wsma on a closing basis, but
has made a double top this week at the 1.11 levels. The pair recovered half of
its losses. Currently, the pair is trading at the 1.1014 level. Today, the pair
opened with a bullish note trading higher. The pair has made strong opening today, so it
opened above the previous close. The pair breached a one-month trend line. A
daily close above the upper end of the triangle provides 100-200 (1.1150-1.12)
pips in the near term with strong resistance 1.11 levels.
Support 1.0970 1.0934 1.0927
The material has been provided by InstaForex Company – www.instaforex.com