The pair made the highest closing in the previous week. As we have been recommending to buy for the last couple of weeks for a target at 1.1145, 1.1195, 1.1224. We are still waiting for the rest of the targets. For the longer-term perspective, a strong breakout above 1.1230, we can see 1.1938. This view is valid with sl 1.0865. We initiated the buy at 1.1 in the August 22 article. As of now toady the pair went up approximately 200 pips, and we are still waiting for more upside. This week the pair opened on a very strong note (opened lower). We expect the uptrend to continue.
For an hourly and intraday view, the pair has support at 1.1151 and 1.1138, below this, 1.1110 and 1.1074. Use a dip to add the long positions.
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Performed by Joseph Wind, Analytical expert InstaForex Group © 2007-2014 |
Short-term analysis of USD/CAD for September 29, 2014
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