Ian Coleman - First 4 Trading
Ian Coleman of explains in a technical analysis of charts why he is buying USDCAD. He is looking to set a limit order to buy at 1.2295 with a stop at 1.2235. His targets are 1.2630 and 1.2850.
Article / 08 October 2012 at 6:07 GMT

USDCAD - Rejects channel base; Bullish above .9720

Analyst / PIA First
United Kingdom

In our last medium term USDCAD call we hit our second medium term target .9841 (from an entry of .9697) but selling pressure last week ‘took out’ our stop (on balances) at .9779. However, losses were rejected close to .9730, a 61.8 percent pullback level of gains from .9632 - .9887, on Friday. This resulted in price moving back inside the daily channel formation. Although we need to see a break of .9880, channel top, to confirm the continued bullish momentum, the bias is assessed to be bullish. Our call is a Bullish above a stop at .9720.

The profit targets are .9880, .9942 and 1.0000.

The risk however would be with selling through a stop of .9720.


USDCAD weekly

osama osama
Hi my friend Ian how are you doing?
osama osama
what do you think about EURUSD?
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Hi Osama... we look for a larger correction lower (medium term)
osama osama
well thanks
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