empty
 
 
19.06.2014 11:10 AM
Technical analysis of USD/CAD for June 19, 2014

General overview for 19/06/2014 08:20 CET

The alternate green count has been invalidated as wave (ii) green went into the area of wave (i). This means the high at the level of 1.0960 might be wave 2 green high and now the market is in an impulsive decline labeled as the alternate red count. If it is so, then the price is now in last stages of wave five (alt:5 red) and some corrective upward cycle might be expected but for this scenario to happen, the intraday resistance at the level of 1.0835 must be broken. Otherwise lower levels will be seen in this pair.

Support/Resistance:

1.0805 - WS1

1.0812 - Intraday Support

1.0821 - Technical Support

1.0835 - Intraday Resistance

1.0872 - Weekly Pivot

Trading recommendations:

Daytraders should consider to open the buy positions only if the level of 1.0835 is broken and H1 candle has closed above it. SL for that trade would be below the level of 1.0805 and TP at the level of 1.0872.

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