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    Technical analysis of USD/CAD for Febuary 27, 2015

    General overview for 27/02/2015 10:16 CET

    The alternate scenario suggesting an (a)(b)(c)(d)(e) blue triangle pattern might just have been completed and the yesterday's rally might be the first wave upward in shape of the leading diagonal. To confirm this kind of wave progression, the market cannot break below the level of 1.2885 (invalidation level) and it should bounce and reverse at the intraday support at the level of 1.2454. Any violation of this level would lead to the recent low test and possible invalidation of the bullish impulsive scenario.

    Support/Resistance:

    1.2349 - Technical Support

    1.2454 - Intraday Support

    1.2435 - WS1

    1.2496 - Weekly Pivot

    1.2531 - Intraday Resistance

    Trading recommendations:

    Yesterday's buy orders hit the TP level. Currently, the long side of the market should be considered with SL below the level of 1.2454 and TP at the level of 1.2531 with a possible upward extension.

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    Sebastian Seliga neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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