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
