Seeking Alpha

ForexLive's  Instablog

ForexLive
Send Message
We provide real-time forex news and analysis at the highest level while making it accessible for less-experienced traders. Since 2009, ForexLive™ has been one of the most-visited foreign exchange trading hubs.
My company:
ForexLive
My blog:
ForexLive
  • USD/CAD Breaks Back Below Channel Trend Line 0 comments
    May 18, 2012 9:03 AM | about stocks: FXC

    The USDCAD (NYSEARCA:FXC) is back into the channel after accelerating the trend higher on the move above topside trend line yesterday afternoon (see red area) and into the Asian session today (highest level reached since January 16th).

    The move back into the channel came on a break below 1.0172 and this is now topside resistance for the pair this morning. The downside now targets at 1.0121, then the 100 hour MA (blue line) at 1.0095. Below that the 50% retracement of the weeks move higher at the 1.0089 will be eyed. Finally, the 200 hour MA and bottom channel support comes in at the 1.0051 level.

    http://www.forexlive.com/blog/2012/05/18/usdcad-breaks-back-below-channel-trend-line/

    Themes: Currency ETF Stocks: FXC
Back To ForexLive's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • ECB's Constancio: Crisis not over; Constancio, a member of the ECB's managing board, is speaking in Frankfurt.
    Mar 28, 2012
  • Best hope for the EUR is an afternoon US equity rebound with European equity markets closing.
    Mar 6, 2012
  • Now I've heard everything...Talk swirling that the ECB will lend to the IMF, who in turn, will lend to euro states. Italian yields falling.
    Nov 17, 2011
More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.