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    Technical analysis of USD/CAD for March 24, 2015

    General overview for 24/03/2015 10:55 CET

    The current Elliott wave labeling might get invalidated if the price violates the level of 1.2448. This will mean the impulsive wave development to the upside is invalidated and the market is likely to create a more complex and time-consuming corrective structure in wave 4 green. Please notice that the outlook remains bearish as long as the golden trendline is not violated.

    Support/Resistance:

    1.2833 - Swing High

    1.2765 - WR1

    1.2698 - 1.2720 - Demand Breakthrough Zone

    1.2607 - Weekly Pivot

    1.2540 - Intraday Resistance

    1.2448 - Intraday Support|Invalidation Level|

    Trading recommendations:

    Yesterday's buy orders did not made any profit, so it would be wise to refrain from trading and wait for more interesting wave developments.

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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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