FX.co ★ USD/CAD: Trading recommendations for March 28, 2013

Trading recommendations:

USD/CAD: If the trend is not able to break and close above the level of 1.0300, then it will be a downside momentum, which is rather convincing and the structure of the fall does not look corrective, for that the market will indicate a bearish opportunity at 1.0280. Hence it will be a good sign to sell at this level in order to continue downward towards 1.0280 on H4. Thus, according to previous events, the price has still been trapped between 1.0225 and 1.0200.

• Buy above 1.0070 (a strong support has been set for three weeks) with targets at 1.0175 and then 1.0260.
• Below 1.0280 (a strong resistance has been set for two days) look for further downside with a target of 1.0080.

Observations:

Key level is at 1.0280.
Range: 140 pips.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.