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31.12.2015 10:18 AM
Technical analysis of USD/CAD for December 31, 2015

General overview for 31/12/2015 09:10 CET

A triangle pattern might continue in a tight range as the market is consolidating around the weekly pivot at the level of 1.3870. To confirm one of the counts, traders must wait for a breakout at the level of 1.4000or for a further downside move to the level of 1.3621.

Support/Resistance:

1.4041 - WR2

1.4000 - Intraday Resistance

1.3927 - WR1

1.3870 - Weekly Pivot

1.3815 - Intraday Support

1.3748 - WS1

1.3693 - WS2

Trading recommendations:

Day traders should continue buying on dips in this market with SL below the level of 1.3815 and TP at the level of 1.4000.

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Summary
Urgency
Analytic
Sebastian Seliga
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