The pair is consolidating between the red line and the blue one

January 15, 2015

USD/CAD, H4

Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair is consolidating between the red line and the blue one, which become resistance (1.1972) and support (1.1911) levels respectively.

USD/CAD, D1

On the daily chart Tenkan-sen line is also above Kijun-sen, although the red line is directed upwards, while the blue one remains horizontal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The closest support level is Tenkan-sen line at 1.1873. One of the previous maximums of Chinkou Span line is expected to be a resistance level at 1.2050.

Key levels

Support levels: 1.1911, 1.1873.

Resistance levels: 1.1972, 1.2050.

Trading tips

Despite a correction Bullish trend is still strong. Target for the buy positions will be at 1.2050.

Publication source
LiteForex information  LiteForex reviews

January 20, 2017
Advance in inflation across the Eurozone
Euro holds gains against the US Dollar ahead of the ECB rate decision, as majority of economists expect no major updates in the policy, while investors will be taking stock of Draghi rhetoric’s to foresee the timeframe of the next big move by the policymakers...
January 20, 2017
US oil inventory draw gave a temporally support for oil prices
Oil prices remained in red figures after Wednesday's bearish acceleration. Brent a little changed on the day and remained prone to more weakness on Thursday. The benchmark stayed neutral around 54.50 dollars per barrel flirting with the level during the European session...
January 20, 2017
Pound gives up gains
The British pound has pulled back sharply today after making its biggest 1day gain in nearly 20 years’ yesterday, as fears once again crept in about where Brexit will lead to...

Orbex Rating
FIBO Group Rating
Z.com Trade Rating
FBS Rating
OctaFX Rating
FOREX.com Rating

Banc De Binary Rating
OptionBit Rating
Anyoption Rating
365BinaryOption Rating
First Binary Option Service Rating
TopOption Rating