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01.12.2015 01:28 PM
Technical analysis of USD/CAD for December 1, 2015

General overview for 01/12/2015 12:20 CET

Upward wave development was not strong enough to break above the golden trend-line dynamic resistance and the market is currently in a corrective cycle again. Please notice the market is still trading inside the bullish zone and only a sustained breakout below the support at the level of 1.3223 would change the short-term bullish outlook.

Support/Resistance:

1.3447 - WR1

1.3433 - Intraday Resistance

1.3362 - Weekly Pivot

1.3290 - WS1

1.3279 - Intraday Support

Trading recommendations:

Unfortunately, the yesterdays TP has not been hit, but the orders were in profit for the major part of time. For now, traders should refrain from trading and wait for a better pattern to occur.

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Summary
Urgency
Analytic
Sebastian Seliga
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