DAILY FORECAST FOR USDCAD
Posted 11-03-2009 at 10:14 PM by FX-Forecaster.com
Bias: While 1.0688 caps I feel we should see the 1.0596-1.01621 area tested but then correct
The drop to 1.0648 only looks like half of the decline and I feel we'll see more soon. Ideally then 1.0688 resistance should hold and generate follow-through to 1.0596-1.0621 where I'd expect a correction higher. Thus, only below 1.0596 an 1.0882 would extend losses to 1.0544 and probably 1.0488-1.0510.
Please view the complete analysis in the attached PDF file.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
The drop to 1.0648 only looks like half of the decline and I feel we'll see more soon. Ideally then 1.0688 resistance should hold and generate follow-through to 1.0596-1.0621 where I'd expect a correction higher. Thus, only below 1.0596 an 1.0882 would extend losses to 1.0544 and probably 1.0488-1.0510.
Please view the complete analysis in the attached PDF file.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
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Consistent forecasting of price movement in today's Forex market is a forgotten art
that requires a deep understanding of price structure and development. The Daily
Forecaster is a comprehensive report that guides traders through the trading day
and is based on an integrated blend of techniques perfected by veteran analyst Ian
Copsey. Based on the techniques described in his popular book "Integrated
Technical Analysis" (published John Wiley and Sons.) Ian provides his unique and
insightful 9 page daily report to a wide range of traders which currently includes
hedge funds to banks and retail traders. Take a free trial to see why so many traders
rely on his unique analysis.
Consistent forecasting of price movement in today's Forex market is a forgotten art
that requires a deep understanding of price structure and development. The Daily
Forecaster is a comprehensive report that guides traders through the trading day
and is based on an integrated blend of techniques perfected by veteran analyst Ian
Copsey. Based on the techniques described in his popular book "Integrated
Technical Analysis" (published John Wiley and Sons.) Ian provides his unique and
insightful 9 page daily report to a wide range of traders which currently includes
hedge funds to banks and retail traders. Take a free trial to see why so many traders
rely on his unique analysis.
