Noughs and Crosses analysis by Instaforex

[abu85]

USD/CAD Noughs and Crosses analysis for November 18, 2011

USD/CAD formed a Quadruple Top thus approaching the strong resistance 1.028 for the fourth time.
At the moment we can expect correction to the 1.022 level and further resumption of upside movement.

Higher base indicates bullish market, however the pair is still in the Triangle formation.

Alternative option: Break of the 1.028 resistance will take the pair out of the triangle and open a way to the 1.032 level.

Support levels: 1,022

Resistance levels: 1,028

 

[abu85]

AUD/USD Noughs and Crosses analysis for November 22, 2011



Severe price deviation from the downtrend line does not recommend selling the pair.



A reverse of the price can happen any moment.

Upside movement is expected as soon as the price reaches the support at 0.980. This level then can be interpreted as accumulation point.

Alternative option: break of the support level 0.977 does not guarantee further downside movement, but the pair is quite likely to correct to 0.983.

Support levels: 0.977

Resistance levels: 0.983

 

[abu85]

USD/CAD Noughs and Crosses for November 23, 2011


Despite the break of the key resistance level 1.040 we cannot switch to buying given the fact that the pair is quite far from the uptrend line.



Although the pair in the uptrend now, it is not recommended to buy now.

The pair is expected to move downwards. This movement can be considered as a correction, the price might also pass the key support level 1.020 and switch the trend to the downside.

At the moment the pair is nearly overbought.

Alternative potion: the upside movement can be continued to the resistance level 1.048, which is unlikely after the 1.040 level is broken.

Support levels: 1.020

Resistance levels: 1.048

 

[abu85]

AUD/USD Noughs and Crosses analysis for November 24, 2011
Yesterday the pair continued with the downside movement and started to reverse to the upside after reaching the support level 0.968.

Today we should expect upside movement to the resistance level 0.986.

The price has deviated quite considerably from the downtrend line, which indicates that the market needs some rest and the correction is inevitable.

The only reason not to buy the pair is it being in the downtrend.

On the other hand, the reverse point has been formed.

 

[abu85]

USD/CAD Noughs and Crosses analysis for November 28, 2011

USD/CAD reached the key resistance level 1.052 from where it headed down.



Break of the support level 1.042 will take the pair down to 1.038 where it might correct to the resistance at 1.042. After this downside movement is expected.

The main trend is still upside, therefore it is recommended to be careful while selling the pair. Selling is only recommended on upside rollbacks in order to minimize possible loss and increase profit.

Sellers have a good opportunity to take the pair down to 1.032.

Support levels: 1.038, 1.032

Resistance levels: 1.052

 

[abu85]

AUD/USD Noughs and Crosses analysis for November 29, 2011

After breaking the 0.977 resistance the AUD/USD pair moved upwards. Buyers managed to take the pair up to the strong resistance level 0.998.



Today we should expect the pair to correct to 0.986 where it is supposed to resume upside movement. Its target might be located at 1.001 resistance level.

In case the pair cannot break the downside trendline 0.995 after the correction to 0.986, the downside movement will be continued to the support level at 0.986.

The price is still in the downtrend.

Support levels: 0.986

Resistance levels: 0.995; 0.998

 

[abu85]

USD/CAD Noughs and Crosses analysis for December 2, 2011

After bouncing off the support level 1.014 the USD/CAD currency pair advanced to 1.022 where it is about to resume downside movement.



The pair has a potential to reach the support level 1.01 where it might correct again.

In case the price reverses and breaks the resistance level at 1.022 the upside movement will last up to 1.028 where the additional trendline is located.

It is not recommended to buy this pair due to being in a strong downside trend.

Support levels: 1.014

Resistance levels: 1.022

 

[abu85]

USD/CAD Noughs and Crosses analysis for December 5, 2011

Reminder: earlier the main trendline was passed at 1.008 despite the fact that the pair carried on advancing, thus confusing many traders.



At the moment the price is back to 1.008 to finish the incomplete downside movement.

The pair is expected to decline to 0.990 as this is the only logical target at the moment.

It is recommended to open a sell position after passing the support level at 1.008.

Support levels: 1.008

Resistance levels: 1.022

 

[abu85]

AUD/USD Noughs and Crosses analysis for December 6, 2011

The pair did not manage to pass the relevant resistance level at 1.034, which caused a considerable flat in the price graph.



At the moment the price is moving to the support level 1.015 where it is supposed to resume upside movement.

In case the 1.015 support level is broken the correction will last up to the additional upside trend line 1.007.

Break of the 1.034 resistance level will give a strong buy signal and open a way to the resistance at 1.043.

It is not recommended to sell the pair as the uptrend is strong and the price has a potential to pass the resistance at 1.034.

Support levels: 1.015, 1.007

Resistance levels: 1.034, 1.043

 

[abu85]

USD/CAD Noughs and Crosses analysis for December 7, 2011

The pair’s upside movement ended after it had passed the resistance level 1.018. We received a false buy signal as the pair is in the downtrend.



At the moment the pair is declining to 1.008; in case this level is broken the downside movement will continue up to the support level 1.0.

The key support level likely to be reached by the price is 0.99 where the pair is supposed to resume upside movement.

In case the pair bounces off the support at 1.008 the upside movement will last up to the resistance level 1.020 where the price is to meet the pressure of the sellers.

It is not recommended to buy the pair as it is in a strong downtrend now.

Support levels: 1.008, 1.0, 0.99

Resistance levels: 1.020