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    Technical analysis of USD/CAD for April 7, 2015

    General overview for 07/04/2015 07:10 CET

    The impulsive wave progression to the upside is developing rather slowly as the market made a false upside break out yesterday. The key thing to gain in this pair is a more bullish price actions above the golden trend line and the test of the level of 1.2556 from the downside. A lack of this kind wave development is likely to result in impulsive progression invalidation and more complex and time consuming corrective cycle.

    Support/Resistance:

    1.2411 - Invalidation Level

    1.2431 - Intraday Support

    1.2506 - Intraday Resistance

    1.2556 - Technical Resistance

    Trading recommendations:

    Daytraders should consider opening buy orders from the current market levels with SL below the level of 1.2411 and TP at the level of 1.2555.

    2015-04-07_usdcad.jpg

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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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