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FOREX: Technical analysis 01.11.2012

01.11.2012

Market Review

USD / CAD

News background:

Pair reached new maximum values against the withdrawal of investors from the risk and weakening oil prices. If today's data from the United States will not be worse than expected, it can put pressure on the local pair.

Technical picture:

From a technical point of view, the price is in the short-term uptrend. But its growth is limited to the level of parity U.S. dollar and Canadian dollar. If this level is overcome, the couple can adjusted downward to the level of 0.9950. Pair is still above the center line of the Bollinger Bands, as well as 5 and 21 EMA.

LED Stoch. indicating the likelihood of a reversal pair down. RSI indicates no clear dynamics.

Trading recommendations.

Sell pair after its decline below 1.0000 with a likely target 0.9950.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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