Forex Magnum



News


USD/CAD Forecast July 2, 2012, Technical Analysis

Autore: FX Empire Analyst - Christopher Lewis

2012-07-01 06:34:00

Bookmark and Share    Scrivi un Commento




The USD/CAD pair fell hard during the Friday session as the oil markets absolutely spiked in reaction to the European Union meeting and its announcement. The Canadian dollar has been following the oil markets even more closely than usual lately, and it is because of this that we think the pair could fall further. However, the $85 level needs to be overcome by the Light Sweet Crude markets in order to push this pair lower.

The Europeans providing a possible solution for backing bonds in Italy and Spain suggests that the world may want to seek “risk assets” in the near term, and the oil markets will certainly be part of that movement. The Non-Farm Payroll number is later this week, and this could also be a massive catalyst in this pair as well.

The candle from the Friday session is long, red, and brutal. This certainly suggests that the Dollar is going to be on the back foot, and if we manage to break below the Friday lows, this could send this pair looking for the parity level in short order. The downside could very well be capped by that level though. The area has been important several times, and should be so in the future.

However, if the parity level gives way – we could see a significant drop form there and down to the 0.97 level before it is all said and done. This would imply that a lot of good things will have happened in order for this to be, so we think that a drop that far is unlikely on the margin.

On the upside, there is a chance that we see a break of the 1.03 level – but this would be a massive reversal of fortune in this pair. If we get that far to the upside, this would have us seriously looking at buying and holding after the candle we saw for Friday. All things being equal, we expect to see this pair drop about 200 pips or so this coming week as the support level is all but gone.


Analisti

Sei un Analista Tecnico Indipendente Professionista del mercato FOREX? Registrati anche tu nella comunità ed elabora insieme a noi strategie automatiche di successo! Dettagli


Programmatori

Sai programmare in MQL o usare il MetaTrading? Registrati e contribuisci alla programmazione di trading system, script e indicatori per MetaTrader. Dettagli


Traders

Ti piace il Trading? Vieni in Trading Room a Cosenza, guarda le analisi tecniche real time dei nostri indicatori e decidi quando entrare nel mercato. Corsi base ed avanzati. Dettagli


Brokers in Test

AvaFX AvaFX-Approved

ACFX ACFX-Testing

UWC UWC-Testing

Markets Markets-Approved

Admiral Markets Admiral Markets-Testing







Non esistono ancora Commenti per questa news.

Archivio News

Analisi Tecnica
Calendario Economico
Long Term Forecast
News
Regolamentazioni
DailyFx.com
Trend-Online
iForex.com
FXStreet.com
ActionForex.com
Easy-Forex.com
FXEmpire.com
Forexpros.it

Pagina:

1 2 3 4 5 > >>

EUR/GBP Classic Technical Report 07.03.2012

2012-07-03 18:40:03  By Ilya Spivak, Currency Strategist for DailyFX.com


USD/JPY Classic Technical Report 07.03.2012

2012-07-03 06:00:07  By Ilya Spivak, Currency Strategist for DailyFX.com


USD/CHF Classic Technical Report 07.03.2012

2012-07-03 06:00:07  By Ilya Spivak, Currency Strategist for DailyFX.com


USD/CAD Classic Technical Report 07.03.2012

2012-07-03 06:00:07  By Ilya Spivak, Currency Strategist for DailyFX.com


US Dollar Classic Technical Report 07.03.2012

2012-07-03 06:00:06  By Ilya Spivak, Currency Strategist for DailyFX.com


NZD/USD Classic Technical Report 07.03.2012

2012-07-03 06:00:06  By Ilya Spivak, Currency Strategist for DailyFX.com


GBP/USD Classic Technical Report 07.03.2012

2012-07-03 06:00:06  By Ilya Spivak, Currency Strategist for DailyFX.com


GBP/JPY Classic Technical Report 07.03.2012

2012-07-03 06:00:05  By Ilya Spivak, Currency Strategist for DailyFX.com


EUR/USD Classic Technical Report 07.03.2012

2012-07-03 06:00:05  By Ilya Spivak, Currency Strategist for DailyFX.com


EUR/JPY Classic Technical Report 07.03.2012

2012-07-03 06:00:04  By Ilya Spivak, Currency Strategist for DailyFX.com


EUR/GBP Classic Technical Report 07.03.2012

2012-07-03 06:00:04  By Ilya Spivak, Currency Strategist for DailyFX.com


AUD/USD Classic Technical Report 07.03.2012

2012-07-03 06:00:03  By Ilya Spivak, Currency Strategist for DailyFX.com


USD/JPY Classical Technical Report 06.29

2012-06-29 08:50:18  By Joel Kruger, Technical Strategist for DailyFX.com


USD/CHF Classical Technical Report 06.29

2012-06-29 08:50:08  By Joel Kruger, Technical Strategist for DailyFX.com


GBP/USD Classical Technical Report 06.29

2012-06-29 08:50:08  By Joel Kruger, Technical Strategist for DailyFX.com


EUR/USD Classical Technical Report 06.29

2012-06-29 08:50:07  By Joel Kruger, Technical Strategist for DailyFX.com


AUD/USD Classical Technical Report 06.29

2012-06-29 08:50:05  By Joel Kruger, Technical Strategist for DailyFX.com


USD/CAD Classical Technical Report 06.29

2012-06-29 08:40:05  By Joel Kruger, Technical Strategist for DailyFX.com


US Dollar Index Classical Technical Report 06.29

2012-06-29 08:40:05  By Joel Kruger, Technical Strategist for DailyFX.com


NZD/USD Classical Technical Report 06.29

2012-06-29 08:40:05  By Joel Kruger, Technical Strategist for DailyFX.com


GBP/JPY Classical Technical Report 06.29

2012-06-29 08:40:04  By Joel Kruger, Technical Strategist for DailyFX.com


EUR/JPY Classical Technical Report 06.29

2012-06-29 08:40:03  By Joel Kruger, Technical Strategist for DailyFX.com


USD/JPY Classical Technical Report 06.28

2012-06-28 08:10:05  By Joel Kruger, Technical Strategist for DailyFX.com


GBP/USD Classical Technical Report 06.28

2012-06-28 08:10:04  By Joel Kruger, Technical Strategist for DailyFX.com


EUR/USD Classical Technical Report 06.28

2012-06-28 08:10:03  By Joel Kruger, Technical Strategist for DailyFX.com

Pagina:

1 2 3 4 5 > >>