Noughs and Crosses analysis by Instaforex

[abu85]

USDCAD Point and Figure Chart Review 2012-09-20


USD/CAD 103 Chart:
On 103 chart the pair is near the resistance level of 0.977.
If buyers manage to overcome 0.977 level, it will enable the resistance level of 0.985.
As far as the main tendency is descending, the current ascending movement is considered to be a correction, for this reason we do not recommend to buy the pair.
Sell USD/CAD after the support level of 0.972 is broken with the first target at 0.965.

 

[abu85]

AUDUSD Point and Figure Chart 2012-09-21

AUD/USD 203 Chart:
On 203 chart the pair resumed its downward movement and overcame the support level of 1.042.
From the level of support 1.038, it continued the growth.
Target for buyers is placed at resistance level of 1.048. In case the pair breaks it through, it will provide a buy signal and will enable 1.062 level.

AUD/USD 103 Chart:
On 103 chart we can observe that the sellers managed to overcome support level of 1.041 which contributed to the further descending movement of the pair.
The prevailing tendency changed to downward.
If the sellers will break through the support level of 1.037, it will be possible to reach 1.03.
We recommend to buy the pair after resistance level of 1.049 is breached.

 

[abu85]

AUDUSD Point and Figure Chart 2012-09-24

AUD/USD on 303 Chart:
On 303 chart we can see an ascending movement towards the main trend.
Bulls are targeting 1.061 level, overcoming of which will give a strong buy signal and enable the way towards resistance level of 1.07.
We recommend look for buy signals.

AUD/USD on 203 Chart:
On 203 chart the pair broke through 1.048 level and gave buy signal and opened the way towards 1.062 level.
We can observe pair’s consolidation near the area of 1.038.
If bears manage to overcome 1.038, we will get an extra signal for buying in line with the trend.

AUD/USD on 103 Chart:
On 103 chart the main tendency has changed towards the uptrend.
We recommend to buy the pair after the resistance level 0f 1.049 is breached or after the support level of 1.037 is broken through.

 

[abu85]

AUDUSD Point and Figure Chart 2012-10-02

AUD/USD on 303 Chart:
On 303 chart the pair came closer to the level of support 1.031 where it can meet the main uptrend line.
Now we have a high probability of upward movement resuming towards resistance level of 1.046.
It is reasonable to buy the pair.

AUD/USD on 203 Chart:
203 chart has registered the ascendant movement from the level of support 1.034.
The main tendency is still downtrend, but, if taken into account the longer time frame, it is possible to buy pair with the first target placed at 1.046 level.

AUD/USD on 103 Chart:
On 103 chart the pair resumed its descending movement in the terms of correction.
We recommend buying the pair when the price is close to 1.033, the level of strong support.
The main target for buyers is resistance levels of 1.051.

 

[abu85]

USDCAD Point and Figure Chart Review 2012-10-04

USD/CAD on 203 Chart:
On 203 chart the bulls managed to overcome resistance level of 0.984 which enabled the level of 0.994.
It is very risky to buy the pair now as far as the main tendency is downtrend.
The final change of trend (the the uptrend) will be performed after resistance level of 1.016 is broken through.

USD/CAD on 103 Chart:
On 103 chart the pair is coming closer to the resistance level of 0.99 from where the downtrend will accelerate towards support level of 0.98.
The strongest level for bulls is placed as 0.992.
The main tendency is still uptrend, however, we recommend selling the pair near 0.99 with the first target at 0.98.