empty
 
 
29.11.2013 12:52 PM
USD/CAD H1 Analysis for November 29, 2013

General Overview for 29/11/2013 10:00 CET

The price has broken above the Supply Breakthrough Zone and stays close to the last swing high but wave progression is far from impulsive so far.

The overall wave progression has been finished in wave C green according to main count BUT there is a possibility that the last wave v will be extended. If price will not break below golden trend line then traders might assume one more high might be made. The alternate count for this scenario has been indicated on H4 chart.

Support/Resistance:

1.0600 - Swing High | WR1 |

1.0598 - Intraday Resistance

1.0573 - 1.0582 - SUPPORT ZONE

1.0560 - Intraday Support

1.0514 - 1.0522 - DEMANZD ZONE

1.0506 - Weekly Pivot

Trading Recommendations:

Main count H1 chart scenario: As long as Intraday Resistance is not broken, short positions should be in play here with SL above 1.0601 and TP1 @ 1.0560 and TP2 @ 1.0522.

Alternate count H4 chart scenario: If Intraday Resistance is broken, then BUY STOP orders from 1.0605 should be in play with SL below 1.0570 and TP1 @ 1.0628 and TP2 @ 1.0690.

This image is no longer relevant
This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback