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Technical analysis of USD/CAD for December 2, 2014

usdcadh1.png

Trading recommendations :



  • According to the previous events, the support and resistance of the USD/CAD pair have been set at the levels of 1.1324 and 1.1401 respectively. So, the pair is going to move between the levels of 1.1340 and 1.1393.

  • Therefore, sell below the price of 1.1401 with the first target at 1.1360, then it will be gone towards 1.1325 in order to test this strong support.

  • If the trend fails to close below the support of 1.2324, so buy above 1.2324 with the target at 1.1366, then at the price of 1.1400.


Observations :



  • Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.

  • Key level is at 1.1355.

  • History will probably repeat itself at this level again.


Intraday technical levels :


Date:2/12/2014


Pair:USD/CAD



  • R3: 1.1563

  • R2: 1.1510

  • R1: 1.1418

  • PP: 1.1365

  • S1: 1.1273

  • S2: 1.1220

  • S3: 1.1128


The material has been provided by InstaForex Company - www.instaforex.com