empty
 
 
13.10.2014 02:26 PM
Technical analysis of USD/CAD for October 13, 2014

General overview for 13/10/2014 13:10 CET

The recent price action on this pair indicates some sort of possible gains consolidation just below the golden channel line, between the area of 1.1221 - 1.1158 with the key level being the intraday resistance at the level of 1.1221. The outlook and bias for this pair is still bullish, but the internal sub-cycle wave c green to the downside still seems to be missing. Please keep an eye on both intraday levels, because only a clear breakout above one of the levels will give more clues about further wave development.

Support/Resistance:

1.1291 - WR1

1.1277 - Technical Resistance

1.1221 - Intraday Resistance|Key Level|

1.1186 - Weekly Pivot

1.1158 - Intraday Support

1.1124 - Intraday Support

1.1108 - WS1

1.1070 - 1.1080 - Demand Zone|Key Level|

Trading recommendations:

The overall bias is still bullish and buying the dips in this market is advised. Nevertheless, some internal sub-cycles seem not to be completed, so please monitor the situation continuously and trade only if any of the intraday levels are clearly broken.

This image is no longer relevant
Summary
Urgency
Analytic
Sebastian Seliga
Start trade
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 $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

Recommended Stories

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