Daily: The USD/CAD continues to climb in this recent environment of risk aversion and news of China's tightening of regulations which subdued any strength in commodities and thus commodity currencies such as the CAD, AUD, and NZD.
The daily time-frame shows the market struggling to reach the previous top at 1.075. The 1.07 is holding as resistance so far in three attemps this week.
The market may be starting a bullish run in the USD/CAD, but a significant correction would help with timing and could further confirm the bullish mode.
Weekly: The weekly time-frame shows that the 1.10-1.11 area is an important resistance. So if the markey breaks the 1.075 area, this may be the next resistance.
This is also an important area as it may coincide with the 200 and 50 MAs in the Weekly time-frame. We will see then if the current rally is a major correction, or whether a long-term rally is starting to take off.[Written by CMS Forex]
"P&F
USDCAD1440 Box Size 225X3 or(5.37%) CLOSE
Data 1.5972 - 0.9161 ~
92 Month ~ 2810 Day
Database 2000 records
1.0703 (Last Close)
2002-05-21 00~00
2010-01-29 00~00 (GMT+01:00) Paris
BJF Trading Group chart"
1.5975|~225||_____________________________________ ___________|-0.02%|74.38%
1.5750|~45O||x____________________________________ ___________|1.39%|71.92%
1.5525|~675||x_o__________________________________ ___________|2.8%|69.47%
1.5300|~9OO||x_o__________________________________ ___________|4.21%|67.01%
1.5075|~1125|__o__________________________________ ___________|5.62%|64.56%
1.4850|~135O|__o__________________________________ ___________|7.02%|62.1%
1.4625|~1575|__o__________________________________ ___________|8.43%|59.64%
1.4400|~18OO|__o__________________________________ ___________|9.84%|57.19%
1.4175|~2O25|__o__________________________________ ___________|11.25%|54.73%
1.3950|~225O|__o_x___x____________________________ ___________|12.66%|52.28%
1.3725|~2475|__o_x_o_x_o__________________________ ___________|14.07%|49.82%
1.3500|~27OO|__o_x_o_x_o__________________________ ___________|15.48%|47.36%
1.3275|~2925|__o___o_x_o__________________________ ___________|16.89%|44.91%
1.3050|~315O|______o_x_o__________________________ ___________|18.29%|42.45%
1.2825|~3375|______o_x_o_____________x___x_______x ___________|19.7%|40%
1.2600|~36OO|______o___o_x___________x_o_x_o_x___x _o_________|21.11%|37.54%
1.2375|~3825|__________o_x_o_________x_o_x_o_x_o_x _o_________|22.52%|35.08%
1.2150|~4O5O|__________o_x_o_________x_o_x_o_x_o_x _o_________|23.93%|32.63%
1.1925|~4275|__________o_x_o_________x_o_x_o_x_o__ _o_________|25.34%|30.17%
1.1700|~45OO|__________o___o_x_______x_o_x_o______ _o_________|26.75%|27.72%
1.1475|~4725|______________o_x_o_____x_o__________ _o_x_______|28.16%|25.26%
1.1250|~495O|______________o_x_o_____x____________ _o_x_o_____|29.56%|22.8%
1.1025|~5175|______________o_x_o_____x____________ _o_x_o_____|30.97%|20.35%
1.0800|~54OO|==============o===o=====x============ =o===o=x===|32.38%|17.89%
1.0575|~5625|__________________o_____x____________ _____o_x_o_|33.79%|15.43%
1.0350|~585O|__________________o_x___x____________ _____o_x_o_|35.2%|12.98%
1.0125|~6O75|==================o=x=o=x============ =====o===o=|36.61%|10.52%
0.9900|~63OO|__________________o_x_o_x____________ ___________|38.02%|8.07%
0.9675|~6525|__________________o_x_o______________ ___________|39.43%|5.61%
0.9450|~675O|__________________o_x________________ ___________|40.83%|3.15%
0.9225|~6975|__________________o_x________________ ___________|42.24%|0.7%
0.9000|~72OO|__________________o__________________ ___________|43.65%|-1.76%
Column|||||||3_113_6_6_104_8_4_126_3_146_6_5_4_3_4 _9_3_6_3_3_|
Count
BJF-Trading-Group_Excel_Chart
