USDCAD Analysis - September 23, 2012

Long Term Forex Analysis | by ForexCycle.com | Sunday, 23 September 2012 10:33 UTC
USDCAD remains in downtrend from 1.0445, the rise from 0.9632 is treated as consolidation of the downtrend. Range trading between 0.9632 and 0.9900 would likely be seen over the next several days. Downtrend could be expected to resume after consolidation, and a breakdown below 0.9632 could trigger another fall towards 0.9500.

For long term analysis, USDCAD had formed a cycle top at 1.0445 on weekly chart. Further decline towards 0.9406 (Jul 26, 2011 low) would likely be seen over the next several months.

usdcad daily chart

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.