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USD/CAD Signal February 22, 2012

Analysis by: ForexRoyals

Currency: USD/CAD
Trend Expected Direction: Up.
Method: Resistance and Support levels, Pivot points.
Description: The USD/CAD is currently above the Pivot point 0.9950 and just reached and retested the bottom line of the upwards channel. If we extend the uptrend line, we can see it crosses a strong resistance level at 1.000 which we cannot ignore.
Action: Best action is to buy above the Pivot point.
Target Area: First target 1.000, second target 1.0025.
Stop Loss: 0.9910

USD/CAD 2/22/12

Forex Royals
About Forex Royals
Forex Royals (ForexRoyals.com) is one of the leading account management and Forex signal services in the Middle East. Forex Royals consists of five analysts that specializes in the field of stocks and currency trading. They also provide sell/buy recommendations, take profit or stop loss on the major currency pairs which include: EUR/USD, GBP/USD, USD/JPY, USD/CHF, EUR/GBP, AUD/USD, and different kinds of commodities.
 

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