InstaForex - Analytics

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    Technical analysis of USD/CAD for July 3, 2015

    General overview for 03/07/2015 13:25 CET

    The top for the wave 3 seems to be in place now and the market started a corrective cycle to the downside. The first wave of the cycle has been made and now the top for the wave b purple is in progress. The target for wave b might be the intraday resistance at the level of 1.2580.

    Support/Resistance:

    1.2632 - Wave 3 Top

    1.2616 - WR3

    1.2580 - Intraday Resistance

    1.2537 - WR2

    1.2500 - Intraday Support

    Trading recommendations:

    Daytraders should consider opening sell orders from current market levels with SL above the level of 1.2581 and TP at the level of 1.2500.

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