1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDCAD is moving to the next short term cycle top

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 9, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    USDCAD is moving to the next short term cycle top on 4-hour chart and the next cycle top is nearing. Pullback would more likely be seen before breaking above 1.0933 resistance. Key support is now located at 1.0755, a break below this level will confirm the cycle top, then deeper decline could be seen to re-test 1.0632 previous low support. However, above 1.0933 will indicate that the downtrend from 1.1723 has completed at 1.0632 level already.

    [​IMG]

    Daily Forex Signal
     
Loading...

Share This Page