The Fusion Media Network: |
 |
Welcome,
Guest!
- BROKERS
Main Directory Promotions Interviews Compare Demo Accounts Live Accounts Special Offer - SOFTWARE
Main Charts Signals Trading Platforms - FUND MANAGERS
Main Interviews - EDUCATION
Main - MEMBERSHIP
Technical
Central Banks
Forex Brokers
Trading Tools
The Forex Pattern Price Time Report - USD CAD - Evening Session
By: James Hyerczyk - 21-08-2008
0votesThe USD CAD broke hard as higher crude oil and gold prices made the Canadian Dollar more attractive.
Since the Canada relies so much on these two commodities, any strength in crude or gold will be good for the economy.
The charts indicate this market should continue to weaken until at least 1.0351.
There may be a technical bounce at this level, but as long as commodity prices rally, any short-covering rally will be met with more selling pressure.
PATTERN
Main Trend: Up
Main Trend Top: 1.0728 (08-12-08)
Main Trend Bottom: .9973 (07-15-08)
PRICE
1.0728 Main Trend Top (08-12-08)
1.0688 Gann Angle Down
1.0648 Gann Angle Down
1.0568 Gann Angle Down
1.0465 50% Retracement
1.0441 New York Close
1.0351 50% Retracement
1.0261 .618 Retracement
1.0253 Gann Angle Up
TIME
Aug 21 90-Day Cycle
Attached Images
Next Analysis: The Forex Pattern Price Time Report - NZD USD - Evening SessionContent Provided by:
James Hyerczyk
James A. Hyerczyk is a registered Commodity Trading Advisor with the National Futures Association.
Mr. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor.
DISCLAIMER:
Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. Prices in the underlying cash or physical markets do not necessarily move in tandem with futures and options prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. In no event should the content of this correspondence be construed as an express or implied promise or guarantee from James A. Hyerczyk and J.A.H. Research and Trading or its subsidiaries and/or affiliates that you will profit or that losses can or will be limited in any manner whatsoever. Loss-limiting strategies such as stop loss orders may not be effective because market conditions may make it impossible to execute such orders. Likewise, strategies using combinations of positions such as "spread" or "straddle" trades may be just as risky as simple long and short positions. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
Become a member and get 6 free Forex courses by OTA! - Charts
- Survey
When viewing a chart which time-frame do you prefer
Browse The Entire ForexPros.com Site:
News
Quotes
Forex Analysis
Forex Brokers
Forex Software
Live Events
Charts
Fund Managers
Education
Forex Forums
Languages
