empty
 
 
09.02.2015 11:34 AM
Technical analysis of USD/CAD for Febuary 9, 2015

General overview for 09/02/2015 10:20 CET

The corrective cycle in the wave X brown might continue here as the shape of this cycle starts to look like a triangle pattern. To complete this pattern, the market must make two more sub-waves and then the downside breakout is expected. On the other hand, the key level to the upside is the intraday resistance at the level of 1.2593 that has been tested twice already. Any breakout higher above this level might mean the corrective cycle will be more complex and time consuming.

Support/Resistance:

1.2797 - Swing High

1.2732 - WR1

1.2593 - Intraday Resistance|Key Level|

1.2543 - Weekly Pivot

1.2350 - Intraday Support|Key Level|

1.2314 - WS1

1.2122 - WS2

Trading recommendations:

Daytraders should consider opening sell orders from the current price levels with SL above the level of 1.2593 and open TP level 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 $9000 more!
    In May we raffle $9000 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