InstaForex - Analytics

    InstaForex

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    Technical analysis of USD/CAD for November 24, 2015

    General overview for 24/11/2015 10:15 CET

    The top for the wave a green is in place and now some internal corrective sub-cycle should unfold. The weekly pivot at the level of 1.3323 is currently providing a good support, but any breakout lower would indicate that the next weekly support at the level of 1.3278 will be tested.

    Support/Resistance:

    1.3447 - WR2

    1.3433 - Intraday Resistnace

    1.3403 - WR1

    1.3334 - Intraday Support

    1.3323 - Weekly Pivot

    1.3278 - WS1

    Trading recommendations:

    The yesterday buy orders' TP level was missed by 15 pips, but the trade was in profit for the most part of the day. Today however, the R/R ratio does not allow us to open a position in either direction, so traders must wait for a better trading setup to occur.

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