USDCAD Technical Analysis 2014, 23.11 - 30.11: Correction - Breakdown For Reversal

D1 price is on primary bullish with secondary correction:

• Chinkou Span line crossed the price from above to below on open bar for possible breakdown
• Senkou Span A line as the border of Ichimoku cloud/kumo is located exact below the price for now; if the price crosses this line from above to below so it will be inside Ichimoku cloud/kumo for bearish market condition so we may see the reversal of the price movement from primary bullish to the primary bearish.
  
• Nearest support level is 1.1259
  
• Nearest resistance level is 1.1401
  

W1 price is on primary bullish with the correction just started on open W1 bar.

MN price is on bullish market condition for trying to break 1.1385 resistance level for the bullish to be continuing.

If D1 price will break 1.1259 support level so the secondary correction will be continuing with good possibility to the reversal of the price movement from bullish to the bearish on this timeframe
If D1 price will break 1.1401 resistance level so the primary bullish will be continuing
If not so we may see the ranging within bullish market condition.

• Recommendation for long: watch D1 price to break 1.1401 resistance for possible buy trade
• Recommendation to go short: watch D1 price to break 1.1259 support level for possible sell trade
  
• Trading Summary: bullish
  

UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCAD price movement for this coming week)

2014-11-25 13:30 GMT (or 15:45 MQ MT5 time) | [CAD - Retail Sales]

2014-11-25 13:30 GMT (or 14:30 MQ MT5 time) | [USD - GDP]

2014-11-25 15:00 GMT (or 16:00 MQ MT5 time) | [USD - CB Consumer Confidence]

2014-11-26 13:30 GMT (or 14:30 MQ MT5 time) | [USD - Durable Goods Orders]

2014-11-26 13:30 GMT (or 14:30 MQ MT5 time) | [USD - Unemployment Claims]

2014-11-26 15:00 GMT (or 16:00 MQ MT5 time) | [USD - New Home Sales]

2014-11-27 13:30 GMT (or 14:30 MQ MT5 time) | [CAD - Current Account]

2014-11-28 13:30 GMT (or 14:30 MQ MT5 time) | [CAD - GDP]

SUMMARY : bullish