empty
 
 
23.06.2014 11:55 AM
Technical analysis of USD/CAD for June 23, 2014

General overview for 23/06/2014 10:45 CET

The anticipated breakout finally materialized and the top for wave 2 green correction is in place at the level of 1.09596. According to this chart there are two possible counts, the main and the alternate, that fit to the current situation. The main count indicates that the downward wave progression is in the shape of a WXYXXZ triple three that should complete very soon and a rebound to the upside should happen. On the other hand, the alternate count indicates impulsive wave progression labeled in red on H4 chart. This count suggests the first wave to the downside has been completed and a corrective cycle is needed soon. Any breakout above the intraday resistance at the level of 1.0752 is bullish and weekly pivot might be tested soon.

Support/Resistance:

1.0687 - WS1

1.0716 - Intraday Support

1.0726 - Technical Support

1.0752 - Intraday Resistance

1.0790 - Weekly Pivot

1.0804 - Technical Resistance

Trading recommendations:

Daytraders should open buy stop positions if the level of intraday resistance is broken with SL below the level of 1.0716 and TP at the level of 1.0790. Otherwise any new low will support the bearish scenario.

This image is no longer relevant
This image is no longer relevant
Summary
Urgency
Analytic
Sebastian Seliga
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $6000 more!
    In December we raffle $6000 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
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback