USD/CAD Technical Analysis At Year-End: ranging within Pivot resistance levels

USD/CAD Technical Analysis At Year-End: ranging within Pivot resistance levels

6 October 2015, 12:11
Sergey Golubev
0
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USD/CAD is on long-term bullish market condition: the price is located to be too far above Ichimoku cloud for trying to break 1.3456 key resistance level for the bullish trend to be continuing. The key resistance levels for the pair on the way to continuing with the bullish trend are the folloiwng:

  • R3 Pivot at 1.3352, and
  • 1.3456 key resistance level.

The key support levels for the pair for the secondary correction to be started are the folloiwng:

  • 1.2951 key support level, and
  • R2 Pivot at 1.2568.

The most realistic scenario for this pair at year-end is the following: the pair will be ranging within 1.3456 key resistance level and R2 Pivot at 1.2568.

If the pairs breaks R3 Pivot at 1.3352 so the next bullish target will be 1.3456. If the pairs breaks 1.2951 key support level from above to below so the next real target will be R2 Pivot at 1.2568.
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