Forex Trading recommendation on USDCAD 12-04-2016 by AzaForex

Making the most out of your foreign exchange investments.
The dollar was back near a strong support level. Bears for the umpteenth time trying to overcome this barrier. By all indicators, bearish trend is likely to continue. At the breakout of this level the price could easily surpass the 100 points.
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
 
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 1.2915
•             The level of profit and close the position: 1.2975 (60 pips)
Metal GOLD
Possible bullish movement in the breakout of the resistance level 1263
 
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 107.60
 
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.4320
 
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9500