FX.co ★ Technical analysis of USD/CAD for September 26, 2014

General overview for 26/09/2104 08:20 CET

The market is behaving as anticipated, slowly making new higher highs but the projected target level has not been hit yet. The market is still trading inside of the golden channel, bouncing up from the lower channel boundary. The Awesome Oscillator shows moderate pace of momentum, so the traders might expect another high to be made on this pair. The short term, mid-term and long-term outlook is still bullish and the first target is at the level of 1.1187.

Support/Resistance:
1.1187 - WR2
1.1130 - Intraday Resistance|Swing High|
1.1065 - WR1
1.1047 - Intraday Support
1.0979 - Weekly Pivot

Trading recommendations:
Day traders should consider opening buy positions from the level of 1.1130 with SL below the level of 1.1097 and TP at the level of 1.1187.