InstaForex - Analytics

    InstaForex

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    Technical analysis of USD/CAD for November 18, 2015

    General overview for 18/11/2015 10:55 CET

    The ending diagonal structure for wave c green of alt -v- blue looks completed and now the market starts to unfold another wave progression to the downside. The key level for this structure is intraday support at the level of 1.3269 as any breakout lower will directly expose the low of the old wave b green for a test at the level of 1.3222. Please notice the trend change from bullish to bearish is valid only when the market moves below the level of 1.3036.

    Support/Resistnace:

    1.3375 - WR1

    1.3368 - Intraday Resistance

    1.3298 - Weekly Pivot

    1.3266 - Intraday Support

    1.3250 - WS1

    1.3222 - Wave b Bottom

    Trading recommendations:

    Daytraders should consider opening sell orders from current market levels with SL above the level of 1.3368 and TP at the level of 1.3266.

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