InstaForex - Analytics

    InstaForex

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    Technical analysis of USD/CAD for November 20, 2015

    General overview for 20/11/2015 13:30 CET

    The three-wave downside move has been completed, and now intraday corrective sub-cycle is unfolding. Any breakout above the recent swing high at the level of 1.3368 will invalidate the current count and make the corrective cycle more complex and time-consuming.

    Support/Resistance:

    1.3375 - WR1

    1.3368 - Intraday Resistance

    1.3298 - Weekly Pivot

    1.3245 - Intraday Support

    1.3250 - WS1

    1.3222 - Wave b Bottom

    Trading recommendations:

    Day traders should consider placing sell orders from current market levels with SL above the level of 1.3333 and TP at the level of 1.3222.

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