| USD-CAD Technical - 18/March |
| Written by Praful Patat | ||||||||||||||||||||
| Friday, 18 March 2011 05:34 | ||||||||||||||||||||
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USDCAD on daily chart still in down trend line. USDCAD failed to break 0.9968 resistance and going down toward extension. In USDCAD minor support at 0.9784, if not break of 0.9784 support then again retrace will happen. USDCAD retraced Fib No. 78.6% at 0.9963 and backed from there, extension 127.2% at 0.9561 which 161.8% extension of 0.9832 to 1.0274 still in progress. Strategy: USDCAD sell at 0.9830 target 0.9784, 0.9667 stop loss 0.9985 New High: 0.9899, 0.9958, 0.9906 New Low: 0.9782, 0.9841, 0.9789 Pivot: R3-0.9994, R2-0.9949, R1-0.9921, PP-0.9877, S1-0.9832, S2-0.9804, S3-0.9760.
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