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Technical analysis of USD/CAD for November 13, 2015

General overview for 13/11/2015 08:50 CET

As anticipated yesterday, the fifth wave to the upside has been made. Nevertheless, there is still a potential for another wave up as the main count has not been completed yet. The key level would be the bottom for the wave b green at the level of 1.3223 as any breakout lower would expand the drop to the level of 1.3161.

Support/Resistnace:

1.3339 - Intraday Resistnace

1.3273 - Intraday Support

1.3239 - Weekly Pivot

1.3161 - WS1

Trading recommendations:

All buy orders should be closed now and traders should wait for another trading setup to occur.

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