InstaForex - Analytics


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    Technical analysis of USD/CAD for October 8, 2015

    General overview for 08/10/2015 08:40 CET

    The Elliott wave count has been adjusted to the recent market developments showing that a decline can take place after corrective wave (iv) green is completed. Any breakout above the level of 1.3217 will invalidate the green impulsive wave count and hit a low at the level of 1.2970 wave (c) bottom.


    1.3229 - Weekly Pivot

    1.3217 - Green Impulsive Count Invalidation Level

    1.3133 - Intraday Resistance

    1.3062 - Intraday Resistance

    1.3000 - WS1

    1.2970 - Intraday Support

    Trading recommendations:

    Day traders should consider opening sell orders from the level of 1.3133 with SL above the level of 1.3217 and TP at the level of 1.2919.


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