USD/CAD – European Session – 21/05/08

0,9898. USD/CAD currency pair is in an downtrend directed by 1H exponential moving averages. USD/CAD currency pair is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a support above 0,9800 (100 pips).

=> We could take a short position at 0,9900. We will put the stop loss above 0,9950 (-50 pips). The targets are 0,9850 (+50 pips) 0,9800 (+100 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances 0,9950 – 0,9960
Supports 0,9880 – 0,9850