Yen Technical Outlook

The US Dollar/Japanese Yen may continue to bounce from recent multi-year lows, as the pair has hit the bottom of its multi-year trend channel and quickly reversed.

The lows likewise coincide with heavily oversold weekly oscillators, and a return to more normal market conditions would favor further US Dollar recovery.

Multi-year spike lows at 87.14 should serve as a base, while next resistance is seen at the top of its short-term downtrend near 93.00.

[ForexGen Demo Accounts Contest]


Win Cash Prizes

[ForexGen] has the pleasure to announce the launching of the Demo Account contest on the first of every month.

Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:

- Full name:
- Phone number

Also provide us with the following identification document:

" Certified copy of the information pages of account holder current valid passport or government issued photo ID"

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com

USD/CAD Short-Term Forex Technical Outlook

The USDCAD continues to hold within an upward trend, and the technical outlook favors a bullish outlook for the pair.

Currency Pair: USD/CAD
Chart: 60 Min Charts
Short-Term Bias: Bullish
Analysis




















The USDCAD continues to hold within an upward trend, and the technical outlook favors a bullish outlook for the pair. After falling to a low of 1.1463 on 11/5, the pair bounced back to reach a high of 1.2986 on 11/21, and may push higher over the near-term as investors curb their appetite for risk. During the previous trading session, we saw the pair make an attempt to cross above 1.2660-70 (21.4% Fib level), but the lack of momentum to push higher paired with the divergence from the 120 SMA suggests that the pair may pull back over the remainder of the week.

[ForexGen Demo Accounts Contest]


Win Cash Prizes

[ForexGen] has the pleasure to announce the launching of the Demo Account contest on the first of every month.

Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:

- Full name:
- Phone number

Also provide us with the following identification document:
" Certified copy of the information pages of account holder current valid passport or government issued photo ID"

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com