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Consistent forecasting of price movement in today's Forex market is a forgotten art
that requires a deep understanding of price structure and development. The Daily
Forecaster is a comprehensive report that guides traders through the trading day
and is based on an integrated blend of techniques perfected by veteran analyst Ian
Copsey. Based on the techniques described in his popular book "Integrated
Technical Analysis" (published John Wiley and Sons.) Ian provides his unique and
insightful 9 page daily report to a wide range of traders which currently includes
hedge funds to banks and retail traders. Take a free trial to see why so many traders
rely on his unique analysis.
DAILY ANALYSIS FOR USDCAD
Posted 11-19-2008 at 04:18 AM by FX-Forecaster.com
Bias: I suspect a dip to maximum 1.2177-92 but from there a rally is indicated
The 1.2365-96 provided a barrier as expected and this seems to imply that we are in the last decline before the uptrend resumes. So far this has reached 1.2273 and I see risk of a dip as far as 1.2230 and 1.2177-92 maximum. While this supports I feel that a reversal higher is possible. An earlier break above 1.2340 and yesterday's 1.2384 high would generate this earlier. This should quickly pass through the 1.2445 high and then to 1.2498, 1.2530 and 1.2583. Take care - only above sees direct follow-through.
For full analysis please open today's full report in PDF format.
The 1.2365-96 provided a barrier as expected and this seems to imply that we are in the last decline before the uptrend resumes. So far this has reached 1.2273 and I see risk of a dip as far as 1.2230 and 1.2177-92 maximum. While this supports I feel that a reversal higher is possible. An earlier break above 1.2340 and yesterday's 1.2384 high would generate this earlier. This should quickly pass through the 1.2445 high and then to 1.2498, 1.2530 and 1.2583. Take care - only above sees direct follow-through.
For full analysis please open today's full report in PDF format.
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