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Monday, April 23, 2012

USD/CAD Survey according to the Point and Figure Charting for April 23, 2012


The USD/CAD pair continues the ascending movement within the correction.
Pat the moment the main target for purchasers is seen at the resistance level 0.998 where the main line of the descending trend is drawn. In case it has been overcome, the tendency will change to uprising providing the strong signal for Buy-deals.
The point 0.987 is considered as a support level. If it has been passed through, the strong signal for Sell-deals will be provided towards the main tendency opening the way to the point 0.980.
Relative strength index is located in the O column indicating the purchasers force.
As long as the main tendency remains downward, today it is recommended to sell the pair after the breakdown of the support level 0.987.


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