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Currency Strenght

Tuesday 26 June 2012

26/062012

Following USdcad Update

I still have a wave 3 count down only becasuse Price did not take out the 1.0302 wkly pviot resistance which has not been taken out yet. Therefore the Bears are still holding this position on the  Daily decline of prices which is  below the 50% fib Line from the highs of 1.4570 to the low retracement @  1.01580 although we are hold bullish but wavering at the moment on the Daily 4hr chart so futher upside swings can still be expected. Support @ 1.02230 reisitance at 1.03022 wkly pivot.

Our bias at this time is still a larger 3rd wave decline. towards 0.9321 then 0.8647. Watching this space and my position is at break even as we sold @ 1.02992 stop at breakeven now we wait for further instructions from the market. and any intermarket relations

 Daily
 4hrss

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