Seven Days Ahead offer financial and commodity market forecasting, technical trading analysis, forex forecasting service, stock market trading recommendations, guides and strategies in the UK.Sign up now

06th Jun - USD/CAD Pauses at Key Resistance

06 June 2013

WEEKLY CHART:

Recovery from last year’s low has now returned to the area of the 1.0415 76.4% retracement level and 1.0446 Jun-12 high – we await reaction around here.

DAILY CHART:

Recent push through the 1.0342 01-Mar high has seen test of the Fibo projection at 1.0400 – coupled with the test of 76.4% on the Weekly chart a temporary pause is not a surprise here – s/term sellers may now be awaiting their moment.

One support comes from the falling return line at 1.0235 currently. If this fails then lower targets will be invited.

Receive three Market Updates fully-illustrated with charts each week for one month FREE

Next story:
13th Jun - Brent Crude Holds Below Key Resistance

Previous story:
06th Jun - Cocoa Rallies off 61.8% Support

< Back to menu

Financial Market Forecasting | Bonds Technical Trading Analysis | Commodity Specialist Guide | Daily Indices Guide | Technical Trading Guide UK |
Site Map | SEO Services | We're listed in the UK Business Directory