USD/CAD Technical Analysis
(US Dollar / Canadian Dollar)

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usdcad


Updated the:
04/14/2014
USD/CAD : Medium term bullish slant broken !

Sentiment :
sentiment sur la parité AUD/USD
1.0957
sentiment sur la parité AUD/USD
1.0914
sentiment sur la parité AUD/USD

--- Follow up analysis ---
The pair USD/CAD continued its rebound and went out of our neutral zone between 1.0940 and 1.0957, giving us a buy signal. In the short term, the price has moved away from its short term bearish slant (active since March 20th) and the price now takes support on a new medium bullish slant (blue dotted line).

We therefore advise to trade only long positions (buy) as far as the fibonacci retracement 23.60% at 1.0957 of the last bearish movement (level of the short term slant) is support. The breakout of 1.1018 (level 38.20%) will give a new buy signal and should open the way for a test of the major resistance at 1.1050.

In case of return below 1.0957 (breakout of the slant), we will advise to remain neutral between this level and 1.0914.

ps : Traders with a more aggressive strategy could trade the pair according to 1.0957 (long above; Short below).
Full analysis

Analysis published by Bruno Dupray, the 04/14/2014 at 09h00 GMT+2


Chart of the pair USD/CAD - Timeframe 1H
USD/CAD Technical Analysis

Chart of the pair USD/CAD - Timeframe 4H
USD/CAD Technical Analysis

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