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December 31, 2012

Weekly forex post – USD/CAD 31th December, 2012 – 6th January ,2013

Posted by: FreeForexSignal.com @ 08:55 GMT Category: Signals,USD/CAD,Weekly Forex

Technical view – USD/CAD

USD/CAD this week

SPOT USD/CAD Previous week OHLC
Open High Low Close Change
0.9929 0.9971 0.9902 0.9969 0.0039
Weekly Support and Resistance
Resistance
Support
R3 1.0150
R2 1.0060
R1 1.0020
   
S1 0.9960
S2 0.9925
S3 0.9850

USD/CAD closed the week in the green, higher by 0.39%. The pair failed to close below crucial near term support at 0.9925 and could head higher to break the 1.0000 mark this week. The upside target is placed at 1.0150 while supports are placed at 0.9900 and 0.9850.

usdcad weekly

FeeForexChart.com

Trend direction

  • Short and medium term trend- Bullish
  • Long- term trend- Bearish

Recommendations

  • Long:
    • Long at 0.9925 with stop loss at 0.9875 for a profit target of 1.0010
    • Also, Long at 0.9850 with a SAR at 0.9800 (close below 0.9850) for a target of 1.0000
  • Short:
    • Short, if the pair closes below 0.9850 or break of 0.9800, S/L at 0.9875, target- 0.9725
Post ID: 3325
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