empty
 
 
18.02.2014 02:25 PM
Technical analysis of USD/CAD for Febuary 18, 2014

General overview for 18/02/2014 12:15 CET

The corrective cycle wave (iv) blue is getting more complex and so far the most accurate corrective price formation would be a triangle. That means the market might stay within the treading range between the levels of 1.0944 - 1.0987 for some time now and only a breakout would be a good clue for a next market move. Please notice the bearish impulsive count invalidation line at the level of 1.1040. Any line violation means that the bottom is in place and the market is ready for another leg up.

Support/Resistance:

1.0944 - 1.0987 - Intraday Range Zone

1.0994 - Weekly Pivot

1.1016 - 1.1024 - Demand Breakthrough Zone

1.1034 - Invalidation Line

Trading recommendations:

A breakout above the level of 1.0987 is bullish and buy positions should be opened with SL below the level of 1.0971 and TP at the level of 1.1016.

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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 $6000 more!
    In December we raffle $6000 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
  • 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