empty
 
 
16.04.2012 09:46 AM
USD/CAD Survey according to the Point and Figure Charting for April 16, 2012

 

The USD/CAD currency pair has overcome the strong resistance level 0.997 and changed the main trend to uprising one.

At the moment the pair is located within the correction of the wave волны 0.993-1.005.

The main target for sellers is seen at the resistance level 1.005. In case it has been overcome, the strong signal for Buy-deals will be provided and the way to the point 1.012 will open.

The second support level is seen at 0.993 where the main line of ascending trend is drawn. In case it has been broken through, the main tendency will change to downward one providing the strong signal for Sell-deals.

The relative strength of the USD/CAD pair is located in the X column confirming the purchasers’ force. As long as the main tendency remains ascending, today it is recommended to buy the pair only when the main resistance level 1.005 with first target seen at 1.012 has been overcome.

 

This image is no longer relevant

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback