July 28, 2009 04:08

Forex Signals – USD/CAD At Major Support

By:

7-28-09

4:06a GMT – I don’t normally do USD/CAD signals on PipHut but the USD/CAD is at major daily/weekly support and I thought I would share with everyone. On 4hour we are well oversold with a bullish divergence on the RSI and the slow stoch has just started to the upside. Unfortunately this has been the condition with the USD/CAD for days now and the downtrend has continued. Different this time though, is the daily chart. On the daily chart we can see we are on support that got a 1000 pip bounce last time it hit there. RSI and slow stoch are both oversold on the daily.The weekly confirms this, BUT the RSI on the weekly has not hit 30 (though does have a slightly bullish divergence from the support last time) and the slow stoch has not crossed over (though the stoch line is at 4! highly oversold).

Trading Idea: Long USD/CAD with target at below 23.6% of fib retracement, curently around 1.0640.

(click to enlarge)
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2 Comments on "Forex Signals – USD/CAD At Major Support"
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    Comment left on:
    December 28, 2011 at 10:40
    hlxxiuqew says:

    TSZAvP tyqvbsbxqekn

  2. Reply
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    Comment left on:
    December 30, 2011 at 13:58
    iohwvon says:

    qQVsFq lmoywpivhboz

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