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Post by Admin on Jun 8, 2016 14:56:43 GMT 8
Looking at the Monthly chart, we can see a pinbar which signifies price rejection. Price has broken the 200-EMA on the Monthly chart and looking to retest 1.2000 level where it was a strong resistance level previously. Let's zoom in to the Daily chart, price is moving under the 200-EMA and 300-EMA which acts as resistance. 1.2000 is also the 50% Fibonacci level. Keep a close watch on this pair. |
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Post by nightingale on Jun 10, 2016 9:37:34 GMT 8
The US dollar has potentially turned into a more positive ground against the Canadian dollar over the medium-term after finding a strong support at the key support level at1.2350and will turn more bullish if it manage to break and close above the strong technical level of 1.2600. Therefore, if it manages to do so, then I would expect the bulls to prompt a move aggressive move towards the 1.2700 level then at 1.2780. Going forward, the pair is trading in the descending triangle formation which started back in January 2014 and this could potentially be nothing more than a retracement, as part of the longer term bullish move dating back to February highs.
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Post by azharaziz on Dec 31, 2016 19:51:33 GMT 8
I mostly avoid trading on such pairs, as I find it too risky and strongly believe that we should go with pair that we can feel comfortable with. I mostly move myself around major pairs; it’s highly beneficial and far more rewarding as well. It’s ever easy under the sheds of OctaFX, as they are one classy company to work with. From having wide range of benefits to comfort, it’s all present here and makes trading absolutely love able for me!
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