empty
 
 
03.09.2014 11:59 AM
Technical analysis of USD/CAD for September 3, 2014

General overview for 03/09/2014 10:50 CET

The technical resistance level has been broken but the market failed to rally after making this move and now is quite possible that the alternate count might be in play. The most important level currently is the intraday support at the level of 1.0876 because breakout below this level would mean, that the top for the wave B green is in place and market needs to make one more wave lower to complete overall corrective cycle. The projected target levels are still the same at the level of 1.0745 - 1.0726.

Support/Resistance:

1.0995 - Swing High

1.0940 - Intraday Resistance

1.0876 - Intraday Support | Invalidation Level|

1.0809 - Wave 2 Green Low

1.0745 - 1.0726 - Projected Target Zone For Wave C Green

Trading recommendations:

Short orders should be in play only if the level of 1.0876 is violated. SL would be at the level of 1.0940 and TP at the level of 1.0745.

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