TheLFB-Forex.com A Forex Trader PortalTheLFB-Forex.com A Forex Trader Portal
The Trader Advantage: Cad Gets Held In An Institutional Range
Excerpts taken from The Trader Advantage Program
Price action has seen very thin trading volumes lately, stopping the pair from moving too far either way. This is happening as cadstruggles to push below the 1.0200 area, the main support zone of the last 19-months of trading. In order to break and hold lower from this point, Usd/Cad will need much stronger volumes and momentum.
Overall View: Looking for low of an impulsive decline.
Momentum: The cad trend moved short in the middle of February, after a period stuck in neutral. The pair can be just as easily bought as sold right now.
Elliott Wave: No change on Usd/Cad after very slow price action over the past few days. A turning point on the Long side of the pair is expected, since we can clearly count five waves of decline from 1.0679 top, which is called an impulsive structure. The market is likely to make at least three waves of an upward corrective move in the near-term.
Before we can confirm a near-term bullish reversal, we need to see impulsive intra-day price action on the upside, and 1.0320 resistance broken.
The bullish divergences on the RSI and MACD indicators also signal for higher prices in the near term.
TheLFB Charting: Usd/Cad 4 Hour View
Join TheLFB Trade Team For Live Online Forex Training With The Pros!
Timing The Forex Trade- A Former Central Banker Reveals All
Course: Detail and Content
Sign-Up for Sat March 13th or Sun Mar 21st 2010
Earn Full Credit On Your Tuition Fee!Course attendees who sign-up for the Trader Advantage Program (TAP) receive the 3rd month of TheLFB Trader Advantage Program free* Get an advantage and subscribe to TheLFB Trader Advantage Program. Enhance your MT4 platform with LFB data and analysis. Put the training course to work long after the course concludes! Save $197! Ask Us How
Trade Signals and Plans Straight Off The Meta 4 Charts- Get TheLFB Trader Advantage
Provided by TheLFB Trade Team, © 2007-2010 LFB Services, LLC. All rights reserved.