USD / CAD Forecast
SEPTEMBER 9, 2015
USD / CAD Forecast
Intra-Day
Technical Analysis
USD/ CAD Intra-Day Technical Analysis
The Currency Pair: USD / CAD is on breakdown initiating to lie down at 1.3178
support level below for the breakdown which seems to be continuing. Given Below
is the Price Chart for the same.
The Chinkou Span
line crossed the price from above to below for better breakdown that seems to
be continuing.
The nearest key resistance
levels are 1.3316 and 1.3342 located on above Ichimoku cloud in the bullish
area of the chart
Descending triangle pattern
was formed by the price with 1.3178 level to be broken for the bearish trend
which seems to be continuing.
Key Analysis:
If the Currency
Pair USD/ CAD will break support level 1.3119 on close Price chart bar so the primary
bearish will be continuing.
The Currency Pair USD/ CAD price may break 1.3395 resistance level so we might see the trend reversal that seems to be primary bullish condition.
The Currency Pair USD/ CAD price may break 1.3395 resistance level so we might see the trend reversal that seems to be primary bullish condition.
Recommendation:
§ Recommendation for long: watch price chart to break 1.3332
for possible buy trade with re-enter at 1.1341
§ Recommendation
to go short: watch Currency Pair price to break 1.3718 or 1.3119 support level
for possible sell trade.
Analyst View:
Bearish
Resistance & Support Level
§ Resistance Level: 1.3295, 1.3332
§ Support
Level: 1.3178, 1.3119
Research Team:
1. Analyst:
2.
Associate Analyst:
Disclaimer:
This document
has been prepared by Seven Star FX Ltd and is meant for sole use by the
recipient and not for circulation. This document is not to be reported or copied
or made available to others. The information contained herein is from sources
believed reliable. We do not represent that it is accurate or complete and it
should not be relied upon as such. We may have from time to time positions or
options on, and buy and sell securities referred to herein. We may from time to
time solicit from, or perform investment banking, or other services for, any company
mentioned in this document. This report is intended for non- Institutional
Clients only
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This report
has been prepared by the Retail Research team of Seven Star FX Ltd. The views,
opinions, estimates, ratings, target price, entry prices and/or other parameters
mentioned in this document may or may not match or may be contrary with those
of the other Research teams (Institutional, PCG) of Seven Star FX Ltd
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