MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

USD/CAD intraday technical levels and trading recommendations for March 14, 2016

analytics56e6c8c9bf672.pnganalytics56e6c8d4d9f30.png

A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart).

A significant bearish rejection was observed around 1.3450. Hence, another consolidation range was established from 1.3450 down to 1.2800.

On December 7, a bullish breakout above 1.3450 (the upper limit of the recent consolidation range) enhanced the bullish side of the market. Hence, a bullish visit to the resistance level of 1.4120 (Fibonacci Expansion 100%) was executed.

Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish rejection was expected (bearish engulfing weekly candlestick).

The level of 1.4120 (Fibonacci Expansion 100%) remains a significant key level to be watched for further price reactions.

On the other hand, the current price zone of 1.3250-1.3180 stands as a significant support zone to be watched for a valid buy entry.

The price zone of 1.3200-1.3250 corresponds to the depicted weekly uptrend line and the upper limit of the previous consolidation range (prominent breakout level).

Hence, any signs of a bullish rejection around this zone should be considered a valid buy signal.

Trading Recommendation:

Conservative traders should be looking for a valid bullish entry around the current price zone of 1.3200-1.3250.

S/L should be located below 1.3100. Initial T/P levels should be located at 1.3400, 1.3500, and 1.3640.

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