RTFX TraderTip >> USD-CAD Analysis - Tuesday 05 May 2009

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RTFX TraderTip >> USD-CAD Analysis - 5 May 2009 The RF Tradertip™ is the presentation of Nostromo system that includes all the technical indicators and resumes the selected currencies pairs' situation on a daily, weekly and monthly basis. DAILY TECHNICAL ANALYSIS USD-CAD         Scenario Technical points Supports / Resistances Channels & Oscillator Elliott : extended impulse wave down 1.1673 Scenario for today Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.1675 or 1.1664. Major support is clustered around 1.1547 limit. Key point 1.1635 Entry point 1.1746 Elliott 1.2266 Closing 1.1723 Projection 1.1673 Trendline 1.1841 Trendline 1.1792 Res 2 1.1958 Ex-High 1.1899 Res 1 1.1840 Pivot 1.1782 Sup 1 1.1664 Ex-Low 1.1723 Sup 2 1.1606 1.2027 1.1978 1.1817 1.1768   Warning: Imminent end of bearish move WEEKLY TECHNICAL ANALYSIS USD-CAD         Scenario Technical points Supports / Resistances Channels & Oscillator Elliott : elongated flat correction down 1.1720 Scenario for this week There is bearish potential for a fall to 1.1704 while 1.1985 - 1.2062 resist. After this fall a recovery up to 1.2062 or 1.2138 is expected. Key point 1.1532 Entry point 1.1871 Elliott 1.2505 Closing 1.1857 Projection 1.1659 Trendline 1.2266 Trendline 1.2027 Res 2 1.2419 Ex-High 1.2266 Res 1 1.2138 Pivot 1.1985 Sup 1 1.1704 Ex-Low 1.1832 Sup 2 1.1551 1.2177 1.2083 1.1778 1.1684   MONTHLY TECHNICAL ANALYSIS USD-CAD         Scenario Technical points Supports / Resistances Channels & Oscillator Elliott : crucial reversal point Scenario for this month Market should meet resistance at 1.2167. We expect then an extended move down to 1.1669 - 1.1216 area. Key point 1.1191 Entry point 1.1969 Elliott 1.3064 Closing 1.1925 Projection 1.0959 Trendline 1.2715 Trendline 1.2366 Res 2 1.3020 Ex-High 1.2715 Res 1 1.2473 Pivot 1.2167 Sup 1 1.1620 Ex-Low 1.1862 Sup 2 1.1314 1.2501 1.2334 1.1793 1.1626   Warning: Low Zone - Imminent end of bearish move Visit all our analysis on http://www.rtfx.com Open a real account   |   Open a demo account

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