Thursday, August 5, 2010

Bounce back (2010-08-05 USDCAD analysis)



Let's see the 4H chart of USDCAD. It has just touched the support line and the downtrend line. It is likely to have some rebounds, but will be resisted by the cyan pitchfork. Looking at the MACD and EMA, it seems that it will break the resistance and break upwards, there would be pretty big surge for USDCAD.

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