empty
 
 
28.09.2016 09:41 AM
Technical analysis of USD/CAD for September 28, 2016

General overview for 28/09/2016:

The golden trend line is still providing the dynamic support for the price on the intraday time frame, but now it is only a matter of time when this support will be violated. The bottom for the wave v of the wave (c) has been established at 1.3000, and now the market is in the corrective upward cycle. The next local high at 1.3275 has been labeled as the top for the wave X, but the growing bearish divergence supports the downside outlook, at least within the intraday time frame. Weekly pivot at 1.3145 seems to be the key level for bears.

Support/Resistance:

1.3253 - Intraday Resistance (Invalidation Level)

1.3191 - Intraday Support

1.3145 - Weekly Pivot

1.3041 - WS1

1.3000 - Technical Support

1.2901 - WS2

Trading recommendations:

Day traders should consider opening sell orders from the current price levels with SL just above the level of 1.3275. TP should be left 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