Canadian Dollar: Bounce

New York London GMT Tokyo Singapore

By Trading Central on November 2, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	117.5
Resistance2:	114.75
Resistance1:	111
Last:	107.5
Pivot:	104.5
Support1:	104.5
Support2:	102.5
Support3:	100

Pivot: 104.5

Our preference: Long positions above 104.5 with targets @ 111 & 114.75 in extension.

Alternative scenario: Below 104.5 look for further downside with 102.5 & 100 as targets.

Comment: both the pair and the RSI have broken above a key resistance area.

117.5
114.75
111
107.5 (last)
104.5
102.5
100

*USD/CAD Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the CANADIAN DOLLAR. For details go to www.ise.com

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

India’s Food Price Index Rises Further - 11 mins ago
UK To Give Greater Protection For Mortgage Borrowers - 13 mins ago
European Economics Preview: UK’s CBI Distributive Trade Survey Results Due - 32 mins ago
*NZ FinMin English Confims Half Year Fiscal Update And 2010 Budget Policy Statement To Be Released On Dec 15 - 41 mins ago
*Bank Of Korea Widnes Inflation-target Band To 2%-4% For 2010-2012 Vs. 2.5%-3.5% For 2007-2009 - 47 mins ago

Opinions From Our Contributors

Commodities Don’t Worry About A Bust In Gold Is Gold Volume Being Pumped? Is Gold Overdue For A Pullback? Gold’s Looking A Bit Stretched Does The Gold ETF Rally Have Legs? The New Crude Oil Benchmark That Could Change The Oil Market’s Price Dynamics Why Gold Prices Could Fall From Here… And Two Ways To Play The Move Gold Rush Creating Issues For Gold Buyers Will Copper Continue To Shine In ‘09? When Do We Sell Gold? Read More »	Financials JP Morgan’s CEO In The Running To Succeed Tim Geithner As US Treasury Secretary? As Bank Failures Increase In The US, FDIC Has Only Two Options Left US Government Admits AIG Folly AIG And Its Counterparties Washington Examiner: “A Fox Is Guarding The Henhouse At The SEC” US Home Prices Continue To Rise Bank Of America Call Options In Hot Demand Stock Market News: HP, Analog Devices, Heinz, Medtronic Report Strong Results, Citigroup Selling Diners Club To Bank Of Montreal Stock Market Briefs: Twitter May Consider IPO, Tyson Foods Beats Estimates Don’t Count Out Actively Managed ETFs Read More »	Exchange Traded Funds Market Quiet On Day Before Thanksgiving Holiday The Advantages Of Global Sector ETFs Why Agriculture And Food ETFs Make Sense In This Market 3 Reasons Why ETNs Are Shrinking Positioning For Year-End Murdoch’s Gamble: Will It Benefit Media ETFs? Why Agriculture ETF Outlook Appears Promising Is Low Interest Creating A Sovereign Debt Bubble? Silver ETFs: More Gains To Come? Protect Yourself Against An Imminent Stock Market Correction Read More »
Stocks Why You Should Sell, Not Buy Options IBM Streamlining And Succeeding While Oracle Is Struggling Gann Fan Chart Art Of Dow Jones On Nov 25 Stock Market News: J Crew And Tiffany Report Better-Than-Expected 3Q Earnings; Goldman Sachs Ups Six-Month Price Target For Amazon.com Stocks To Watch On Wednesday Wednesday’s Futures Outlook: Stocks Trading Higher, Driven By A Sharply Lower US Dollar Morning Movers: J. Crew Group, Burger King, Tiffany & Co The US Bond Market Could Be Sniffing Out The Dying Rally In Stocks Improved Global Outlook Spurs India Stock Market Stock News Briefs: GM May Keep Saab After Deal Falls Apart; US 3Q GDP Revised Down; Qualcomm Antitrust Inquiry Dropped Read More »	Forex EUR/JPY Falls Below 200 Day Moving Average Today But Rebounds Thanksgiving Forex Trading: Anything But The US Dollar Australian Dollar: Caution Canadian Dollar: Caution US Dollar Sinks To New Lows GBP/USD - Watch The Support Levels Fed Members View Decline In The US Dollar As ‘Orderly’ Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure Is The US Dollar Ready To Rally? Read More »	Economy Cartoon: Recovery – Hard To Notice! Durable Goods Orders Drop The Fed Knows Another Mortgage Mess Is In The Offing US, UK, Japan, Italy: Which Of These Countries Will Default First? US Jobless Claims Falls Below 500,000 For First Time Since Nov 2008 US Initial Jobless Claims Plunge - Good Implications For The Job Market Interesting Articles To Read Indian Stock Markets: Sensex Up 67.87 Points On Wednesday Why Pimco’s Fleeing From Mortgage Debt Into Government Debt US Housing Has Never Been More Affordable Read More »