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USDCAD Technical Analysis 2014, 14.09 - 21.09: Bullish Breakout or Ranging?

16 September 2014, 06:11

Sergey Golubev

157

D1 price is on primary bullish for trying to break 1.1097 resistance for the bullish to be continuing.

H4 price is on falt within primary bullish ranging with the channel between 1.1098 resistance and 1.1030 support level.

W1 price is on primary bullish for trying to break 1.1097 resistance level for the bullish to be continuing. Chinkou Span line came very near to historical price ready to break the price from below to above for good breakout.

If D1 price will break 1.1097 resistance level on close bar so the bullish will be continuing.
If not so we may see the ranging market condition or correction within primary bullish.

Recommendation for long: watch D1 price for breaking 1.1097 resistance level on close bar for possible buy trade
Recommendation to go short: n/a
Trading Summary: bullish

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

2014-09-16 12:30 GMT (or 14:30 MQ MT5 time) | [USD - PPI]

2014-09-16 12:30 GMT (or 14:30 MQ MT5 time) | [CAD - Manufacturing Sales]

2014-09-16 16:45 GMT (or 18:45 MQ MT5 time) | [CAD - BOC Gov Poloz Speech]

2014-09-17 12:30 GMT (or 14:30 MQ MT5 time) | [USD - CPI]

2014-09-17 18:00 GMT (or 20:00 MQ MT5 time) | [USD - Federal Funds Rate]

2014-09-18 12:30 GMT (or 14:30 MQ MT5 time) | [CAD - Foreign Securities Purchases]

2014-09-18 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Building Permits]

2014-09-18 12:30 GMT (or 14:30 MQ MT5 time) | [USD - Unemployment Claims]

2014-09-18 12:45 GMT (or 14:45 MQ MT5 time) | [USD - Fed Chair Yellen Speech]

2014-09-18 14:00 GMT (or 16:00 MQ MT5 time) | [USD - Philly Fed Manufacturing Index]

2014-09-19 12:30 GMT (or 14:30 MQ MT5 time) | [CAD - CPI]