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02.10.2013 11:32 AM
USD/CAD H1 Analysis for October 2, 2013

General overview 02/10/2013 08:30 CET

The price development is pointing to the upside and the current wave progression indicates that wave (iii) is developing.

To confirm this movement, the 1.0350 level must be taken out. Then, the next resistance for the price is WR2 at 1.0379.

Support provides the 1.0335 level.

Momentum on AO oscilator is increasing and no divergence is presented yet.

Support/Resistance:

1.0379 - WR2

1.0245 - WR1

1.0338 - 1.0350 - SUPPLY ZONE

1.0335 - Intraday Support

1.0307 - Weekly Support

1.0274 - WS1

1.0236 - WS2

Trading recommendations:

As long as intraday support level holds, long positions should be in play with tigh SL and potential TP at 1.0379.

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Summary
Urgency
Analytic
Sebastian Seliga
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