empty
 
 
27.03.2015 10:31 AM
Technical analysis of USD/CAD for March 27, 2015

General overview for 27/03/2015 09:20 CET

As anticipated yesterday, the bottom for the wave (b) blue should be in place now and market is trying to rally upward in first possible wave 1. To confirm that scenario, the price has to break out above the level of 1.2540 and head up higher in impulsive way. Please notice that only a sustained breakout below the invalidation line at the level of 1.2388 is going to make this scenario invalidated.

Support/Resistance:

1.1933 - 1.1803 - Demand Zone

1.2352 - 1.2379 - Key Zone

1.2388 - Invalidation Level

1.2540 - Intraday Resistance

Trading recommendations:

There are two scenarios for mid-term trading decisions for daytraders and swingtraders:

-If the level of 1.2388 is violated to the downside, daytraders and swingtraders should consider opening sell orders on any rally up with SL above the level of 1.2540 and TP open for now

-If the level of 1.2540 is violated to the upside, daytraders and swingtraders should consider opening buy orders from any retrenchment level with SL below the level of 1.2388 and TP open for now.

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 $1000 more!
    In April we raffle $1000 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