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The Forex Pattern Price Time Report - USD CAD - Morning Session
By: James Hyerczyk - 27-08-2008
0votesThe main trend turned down in the USD CAD yesterday. The rally in gold and crude oil is expected to put more downside pressure on this market over the short-run. Expectations are for the hurricane in the Gulf of Mexico to cause hit key refineries. This could trigger a sharply lower break. Technically, the first downside objective is 1.0351. A sharply higher crude oil market over the next few days could accelerate a break to 1.0261.
PATTERN
Main Trend: Down
Main Trend Top: 1.0728 (08-12-08)
Main Trend Bottom: None
PRICE
1.0867 Main Trend Top (08-16-07)
1.0798 .618 Retracement
1.0728 Main Trend Top (08-12-08)
1.0672 Gann Angle Down
1.0618 Gann Angle Down
1.0610 .618 Retracement
1.0561 Week High
1.0508 Gann Angle Down
1.0489 Overnight High
1.0483 New York Close
1.0465 50% Retracement
1.0426 Overnight Low
1.0411 Week Low
1.0378 Weekly Gann Angle Up****
1.0351 50% Retracement
1.0283 Gann Angle Up
1.0261 .618 Retracement
1.0213 Weekly Gann Angle Up****
TIME
Aug 28 180-Day Cycle
Attached Images
Next Analysis: The Forex Pattern Price Time Report - NZD USD - Morning 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.
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