empty
 
 
27.05.2016 09:05 AM
Technical analysis of USD/CAD for May 27, 2016

General overview for 27/05/2016:

The wave c of the wave (ii) green had been terminated just above the intraday support at the level of 1.2892. The corrective structure looks completed now, but the low will be confirmed only if the golden trend line is violated from the downside and the intraday resistance at the level of 1.3036 is broken as well. Otherwise, the corrective structure might evolve to more complex and time-consuming pattern.

Support/Resistance:

1.3276 - WR1

1.3186 - Local High

1.3056 - Weekly Pivot

1.3036 - Intraday Resistance

1.2951 - WS1

1.2892 - Intraday Support

1,2836 - Green Impulsive Count Invalidation Level

Trading recommendations:

Day traders should consider to open the buy orders from current market levels with SL below the level of 1.2892 and TP open for now. The corrective structure in wave (ii) might be completed, so we anticipate a strong impulsive rebound in wave (iii).

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