Trading recommendations:
According to the previous events, the support and resistance of the USD/CAD pair have been set at the levels of 1.1324 and 1.1401 respectively. So, the pair is going to move between the levels of 1.1340 and 1.1393. Therefore, sell below the price of 1.1401 with the first target at 1.1360, then it will be gone towards 1.1325 in order to test this strong support. If the trend fails to close below the support of 1.2324, so buy above 1.2324 with the target at 1.1366, then at the price of 1.1400.Observations:
Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated. Key level is at 1.1355. History will probably repeat itself at this level again.Intraday technical levels:
Date:2/12/2014
Pair:USD/CAD
R3: 1.1563 R2: 1.1510 R1: 1.1418 PP: 1.1365 S1: 1.1273 S2: 1.1220 S3: 1.1128