| Sep 9 2010, 07:55:27 GMT | Sydney: | 17:55 | Tokyo: | 16:55 | Barcelona: | 09:55 | London: | 08:55 | New York: | 03:55 | San Francisco: | 00:55 |
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Mid Session Analysis
The USD CAD is trading unchanged to lower at the mid-session. This currency pair is having trouble penetrating a 50% level at 1.1654. This level is based on the main range of 1.2507 to 1.0783. This pair has tried four times this week to break through this level having produced a high at 1.1654. Regaining this level could trigger an even further rally to 1.1848.
If this market forms a short-term top at 1.1654 then look for a correction back to 1.1218 to 1.1116. This retracement zone is based on the range of 1.0783 to 1.1654.
Once again the potential down move will only be a correction. Based on the current swing chart set up, the main trend will not change to down until 1.0941 is violated.
Mid Session Chart
Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of
leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider
your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some
or all of your initial investment and therefore should not invest money that you cannot afford to lose. You should be aware of
all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
