Managed forex accounts

(Chart courtesy of FX Solutions’ FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 3/12/2010 – USD/CAD – Bearish price action on USD/CAD, a daily chart of which is shown, has finally made a tentative breakdown below the key 1.0200 support level after respecting this level several times this week. Friday’s

Finally, risk appetite gave up earlier strength and majors and pair is correcting to the downside. Capped above 1.5120 support area, under that level a probable retest of 1.5080/90 seems likely as 4 hours charts show indicators also losing strength. Only above today’s high of 1.5176, pair could regain bullish momentum and approach to key 1.5230 resistance area.