InstaForex - Analytics


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    Technical analysis of USD/CAD for April 1, 2016 2016-04-01

    General overview for 01/04/2016:

    Another marginal low has been made overnight, but the price strongly rebounded upwards in an impulsive fashion. Currently, the market trades inside of the neutral zone between the levels of 1.3017 - 1.3128. Only a sustained break out above the intraday resistance at the level of 1.3128 would confirm the bottom for wave (c) of wave Z brown is in place.


    1.3495 - WR2

    1.3416 - WR1

    1.3217 - Weekly Pivot

    1.3140 - WS1

    1.3128 - Intraday Resistance

    1.3017 - Intraday Support

    1.2944 - WS2

    Trading recommendations:

    The buy orders are now closed as the trailing stop loss level has been reached. For now, traders should refrain from trading and wait for another setup.


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