USDCAD Technical Analysis Fri, 24 May 2013

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May 242013
 
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4XEagleEye Chart

2013.05.24 [Forex | US Dollar vs Canadian Dollar] We prefer upside scenario at this phase. Since bias is bullish in nearest term targeting (1.0392). Another move back below (1.0236) could lead us to neutral zone.We will try to buy USDCAD from our mentioned support levels.

Market Snaphoot 1 Market Snapshots


Summary
Direction
Moving Avg.
Indicators. 		59%
Reversal Prob. 		Oscillator Candle Harmonic
1.0320 1.0368 1.0392 1.0434 1.0475
1.0285 1.0272 1.0262 1.0246 1.0220
Hourly Alerts
Stochastic Oversold 3 hours ago USDCAD Stochastic (14) main line entered hourly oversold zone. Traders should NOT consider any short term short trades.
MACD Turning Bearish 3 hours ago USDCAD MACD (12, 26, 9) histogram turned from bullish to bearish. This should empower the instrument`s bearish technical short term outlook.
MACD Bearish Turning Point 4 hours ago USDCAD MACD signal line has crossed below the indicator`s histogram while both of them, MACD and histogram, been greater than Zero. This is a probable bearish short term turning point.
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