Tuesday, September 27, 2011

Morning Technicals

Usd/Cad seems to have formed a minor pin bar on the highs with an RSI that is relatively oversold above 70. I am looking to sell this pair when it crosses the 1.0237 support line that worked well in September and October last year as support and resistance.First T.P is the 50% fib line.


Another pair I will be watching is the Nzd/Usd which seems to be on a minor correction path on the daily.RSI is oversold ,and there is some minor correction candle sticks forming which signal to me a minor bullish run.First t.p is 0.7957 which are support from the long candle stick in August and last weeks bearish bar.


Will wait and see how my plan pans out.Good luck trading to you all and do your own analysis.
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1 comment:

  1. Forex/commodity traderSeptember 28, 2011 at 7:30 AM

    Did not enter the Usd/Cad since it had a problem breaking the support line until later during the day.After the break the pair had no momentum.However the Nzd/Usd did hit my take profit for 140 pips profit.I also traded the Nzd/Jpy which also got me some 120 pips.The two are currently moving together.

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