Disappointing CAN jobs report CAN jobs +21K Unemp rate drops to 8.2% from 8.3% -> USDCAD new lows again.
Nothing new here à last update here http://bit.ly/8ZvLA6 .
Next support 0.9994, 0.9924 and major support weekly chart 0.98.
Resistances: 1.0220, 1.0340 and 1.0390.
Stay alert weekly close below 1.0220 expect 0.9994 possible extension 0.98 ( support weekly chart).
Good luck
Some notes looking to short and medium term.
Bullish view
Above 1.4781 weekly close expect coming months test 1.5580 possible extension to 1.58.
Below 1.5273 can have continuation sideways/choppy sessions with some spikes. Stay alert 1.5273 breakout can push fast this cross.
Bearish view
Below 1.5273 weekly close expect coming weeks new lows around 1.45 area
Last EMA cross bearish - Possible reversal if trade some weeks above .158 area.
Long term view
Below 1.58 big risk collapse this cross and have new lows (< 1.34) this year.
Remember fibo 61.8 correction from (1.70-1,34) good suport area, was the low of this year until now, and remember made projection breakout range 1.68,1.58=1000 pips around 1.48 area.
First 3 months I have 1400 pips close the year 1.6145.Oversold conditions last weeks, risk more higher short side for now.
Looking to major indexes ( ftse, cac, dax, spx, ndx, gold) I have to follow for now bullish view.
Good luck!!!
SPX
Bullish view
Short-term view Above 1095 "daily chart" and 1132 "hourly chart" nothing new next resistance 1162 and 1174.
Medium term Above 1095 daily chart expect coming months target between [1200,1220]
Bearish view
Short-term Close below 1132 expect 1123 possible extension to 1117
DAX
Bullish View
Short-term above 5650 "daily chart" and 5858 "hourly chart" nothing new Head shoulders underway Target Head shoulders 6050 follow this scenario above 5740 next resistance 5964.
Medium term above 5650 expect coming months target between [6250,6400]
Bearish view
Short-term close 5858 expect 5740 possible extension to 5650
NDX
Bullish View
Short-term Above 1865 "daily chart" and 1895 "hourly chart" nothing new next resistance 1940 and 1970.
Medium- term above 1865 expect coming months target between [2130,2170]
Bearish View
Short-term close hourly below 1895 expect test 1865.
Note: All this indexes above support area only can expect test resistances areas/targets.
Good luck… sorry no chart today.
Below 1.5220 Trend bearish all time frames.
Expect coming hours new test suport area 1.4880 ( bearish formation last hours) but if close hourly above 1.5030 expect 1.5074 possible extension to 1.5110.
Possible bearish pattern - wedge need confirmation with a close below 1.4930 Target 1.4877 again.
Resistances : 1.4985, range [1.5018,1.5030] and 1.5074 the last resistance 8 pips above first resistance daily chart.
Click to zoom in. Good Luck
