empty
 
 
19.01.2017 11:56 AM
Technical analysis of USD/CAD for January 19, 2017

General overview for 19/01/2017:

The market reversed strongly to the upside and now is trading just below 50%Fibo of the last swing down. The gray rectangular zone is the first target projection area for wave 1/a (main count) or wave 2/b (alternative count). In case of a further breakout higher, the next resistance is seen at the 61%Fibo at the level of 1.3377. Those levels are the key resistance levels for the day, because the price might start to stall/reverse at one of those levels and move lower in order to test the intraday support at the levle of 1.3188.

Support/Resistance:

1.2883 - WS2

1.2994 - WS1

1.3143 - Weekly Pivot

1.3188 - Intraday Support

1.3259 - WR1

1.3308 - Technical Resistance

1.3377 - 61%Fibo

1.3408 - WR2

Trading recommendations:

Day traders should keep the buy orders that are in play already, but the TP should be set lower than 1.3408 and for this two levels are appropriate: 1.33308 and 1.3377.

This image is no longer relevant

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 $8000 more!
    In March we raffle $8000 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