25/08/2014 NEW YORK SESSION WATCH – USD/CAD USD/CAD has been - TopicsExpress



          

25/08/2014 NEW YORK SESSION WATCH – USD/CAD USD/CAD has been consolidating and forming a triangle chart pattern. The overall trend is still up as all the short term moving averages (10 and 20) are still staying well above the long term moving averages (50,100 and 200). The tenkan-sen is above the kijun-sen and the Chikou sen continues to stay above the candlesticks which aligned with the moving averages up trend. Besides, the parabolic SAR and the MACD aren’t showing any signs of reversing the trend either. All the oscillators are showing the price is in an indecisive situation which is likely to lead to a strong breakout. As all the indicators are showing the trend is still up, we could possibly see a breakout above this triangle chart pattern in todays New York session if volume and volatility rise. But if this consolidation continues, the probability of price breaking down is high as well. READ the full article: HERE bit.ly/1pxBeoM #forex #usdcard #market_analisys
Posted on: Mon, 25 Aug 2014 13:37:40 +0000

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