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November 19, 2012

Weekly forex post – CAD/USD 19th – 25th November ,2012

Posted by: @ 05:15 GMT Category: CAD/USD,Weekly Forex

Technical view – CAD/USD

SPOT CADUSD Previous Week 1.0385 1.0458 1.0283 1.0341 (-0.0042)


Supports- 0.9900 0.9850 0.9710
Resistances- 1.0110 1.0190 1.0340 View- Neutral
Price range- 0.9850- 1.0100

Trading call – CAD/USD

CAD USD closed flat for the week. The currency pair moved in a very tight 70 pip range the entire week. Strong support seen at 0.9850, with the upside limited to 1.0100, for now. For the week, initiate long positions at 0.9850 with a stop at 0.9800 for a p.t. of 1.0100. Long positions can also be initiated if the currency pair closes above 1.0125 OR if the pair breaks 1.0150 with a stop loss at 1.0075 for a p.t. of 1.0300. However, if CAD/USD breaks 0.9810, short the pair with a stop at 0.9860 for a p.t. of 0.9700

Post ID: 2592
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