USD/CAD intraday technical analysis and trading recommendations for June 10, 2013
June 10, 2013 10:15 am
Support level around 1.0016-0.9995 provided evident bullish steam for the pair to step above 1.0300. Hence, there might be further bullish pressure to test 1.0430 level.
The scenario of accidental confusion continued last week untill Thursday when we had this massive bearish daily candlestick that closed at 1.0260.
Today, the USD/CAD pair is still affected by the bearish pressure applied last week. However, price action should be watched around 1.0130 for evident bullish rejection.
The pair remains bullish as long as 1.0120 remains unbroken.
Support: 1.0180, 1.0120, and 1.0080.
Resistance: 1.0260, 1.0330 and 1.0400.
Trading recommendation: Based on the chart above, buying the pair around 1.0130 will be valid on expressing significant bullish price action with tight SL as 4H closue below 1.0080.
The material has been provided by InstaForex Company – www.instaforex.com
Support level around 1.0016-0.9995 provided evident bullish steam for the pair to step above 1.0300. Hence, there might be further bullish pressure to test 1.0430 level.
The scenario of accidental confusion continued last week untill Thursday when we had this massive bearish daily candlestick that closed at 1.0260.
Today, the USD/CAD pair is still affected by the bearish pressure applied last week. However, price action should be watched around 1.0130 for evident bullish rejection.
The pair remains bullish as long as 1.0120 remains unbroken.
Support: 1.0180, 1.0120, and 1.0080.
Resistance: 1.0260, 1.0330 and 1.0400.
Trading recommendation: Based on the chart above, buying the pair around 1.0130 will be valid on expressing significant bullish price action with tight SL as 4H closue below 1.0080.
The material has been provided by InstaForex Company – www.instaforex.com
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