Home  Long Term Forex Analysis USDCAD Analysis - Aug 16, 2008
|
|
|
|
USDCAD Analysis - Aug 16, 2008 |
|
|
|
Written by ForexCycle.com
|
|
Friday, 15 August 2008 |
|
USDCAD is in up trend and the fall from 1.0727 is treated as consolidation to up trend. Further pullback to 1.0500 is still possible next week. However, as long as 1.0500 level holds, we'd expect up trend to resume, and one more rise towards 1.1000 is still possible after consolidation.
For long term analysis, USDCAD formed a long term cycle bottom at 0.9818 level on weekly chart. Further rise towards 1.1000 to reach next cycle top is still in favor.
Previous Long Term Forex Market Analysis
|
|
Recommended Forex Trading Platforms
 |
A 90 day demo account helps you build up your trading confidence with ample time and capital before entering a live environment. From US$5,000 up to US$ 5,000,000 to trade in virtual money, get direct access to the world's FX markets at no risk or obligation with our powerful, user-friendly online trading platform - the MIG Trading Station. |
|
