Daily Forex Technical Report
This report has been deactivated

7

0
Daily Forex Technical Report − USD/CAD Mid−Day Outlook
Wed, Jan 28 2009, 15:05 GMT
by ActionForex.com Team
ActionForex.com
USD/CAD's fall from 1.2765 resumes in early US session and dives to as low as 1.2024 so far. Break of 1.2104 support indicate that rebound from 1.1761 has completed. Further decline is now in favor to this 1.1761 low first. Also, note that consolidation from 1.3015 is still in progress and deeper decline might be seen to retest 1.1464 support. On the upside, above 1.2330 is needed to indicate fall from 1.2765 has completed. Otherwise, further fall is now in favor even in case of recovery.
In the bigger picture, there is no confirmation of completion of medium term up trend from 0.9056 yet. Such rise is expected to be developing into a five wave sequence (1.0378, 0.9823, 1.3015, ......). Consolidation from 1.3015 is treated as the fourth wave consolidation. Failure below 1.3005 suggests that such consolidation is still in progress and a test of 1.1464 support could be seen before completion. On the upside, note that decisive break of 1.3005/15 will confirm medium term up trend resumption and should then target 61.8% retracement of 1.6196 to 0.9056 at 1.3469.
Published on
Wed, Jan 28 2009, 15:08 GMT
Archive
- Daily Forex Technical Report - USD/CHF
Published On Thu, Jan 29 2009, 08:39 GMT
- Daily Forex Technical Report - USD/CAD Mid-Day Outlook
Published On Wed, Jan 28 2009, 15:05 GMT
- EUR/CHF Outlook
Published On Wed, Jan 28 2009, 11:04 GMT
- Daily Forex Technical Report - USD/JPY
Published On Wed, Jan 28 2009, 08:25 GMT
- Daily Forex Technical Report - USD/CAD
Published On Tue, Jan 27 2009, 12:21 GMT
[ View All ]
Action Forex Company Limited
| Room 1707, 17/F Treasure Centre 42 Hung To Road Kwun Tong, Kowloon
http://www.actionforex.com | contact@actionforex.com
Legal disclaimer and risk disclosure
ActionForex.com does not guarantee the accuracy of the reports and trading recommendations provided. Any market recommendations of, or information provided by ActionForex.com do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any foreign exchange transaction.
Related reports
Forex Daily Analysis - USDJPY has extended its concentration around support level at 88.81 by Investija.com
Fri, Nov 20 2009, 08:25 GMT
Forex Technical Report - Dollar Gains as Investors Shy Away from Risky Assets by ForexHound.com
Thu, Nov 19 2009, 23:38 GMT
Fundamental News Summary - US Session News Summary by ecPulse.com
Thu, Nov 19 2009, 21:10 GMT
Forex Daily Analysis - AUDUSD bears have made a break by support level at 0.9222, downtrend movement is extended by Investija.com
Thu, Nov 19 2009, 14:34 GMT
Forex Daily Analysis - USDJPY has reached support level at 88.81, possible breakout remains by Investija.com
Thu, Nov 19 2009, 08:17 GMT
usdcad
View All
Related content
Canada Afternoon: C$ Ends Lower Amid Subdued Risk Sentiment
Dow Jones | Fri, Nov 20 2009, 21:12 GMT
BoC’s Carney- would be mistake to change monetary policy frameworks
Forex Live | Thu, Nov 19 2009, 23:54 GMT
Forex: Dollar and Yen finish with gains on falling stocks
FXstreet.com | Thu, Nov 19 2009, 22:49 GMT
Canada Afternoon: C$ Down But Off Lows As U.S. Dollar Advances
Dow Jones | Thu, Nov 19 2009, 20:47 GMT
Canadian Investment in Foreign Securities increases to C$4.8B
FXstreet.com | Thu, Nov 19 2009, 13:38 GMT
usdcad
View All
Tech Trading » USD/CAD Retesting 61,80% Fib support
Mon, Nov 16 2009, 15:43 GMT
The Advisor Weblog » Cad and Aud falling
Thu, Nov 12 2009, 15:31 GMT
Chartology » USD/CAD Heading Lower as Trend Continues…
Thu, Nov 12 2009, 07:58 GMT
Tech Trading » USD/CAD Constructs lower highs
Tue, Nov 10 2009, 12:07 GMT
The Advisor Weblog » Canada employment data
Fri, Nov 6 2009, 12:06 GMT
usdcad
View All
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.