empty
 
 
02.10.2013 11:43 AM
USD/CAD analysis for October 02, 2013

This image is no longer relevant

USD/CAD Elliott Wave 
Since our last analyses the USDCAD pair has been trading upwards, just like we expected, corrective wave c (coloured blue) of the bigger wave (y) has been developing. During Tuesday's Asian session we could observe strong descending movement from 1.0328 towards the 1.0287 level.Therefore, during the European and New York sessions this commodity currency did not manage to hold around the lows and the price reached a new high at 1.0340. At the moment, the USDCAD pair is trading around 1.03460 and we are expecting to see the start of the [c] wave (coloured black) from the current level or 1.0400; in any case we want to be sellers in this pair. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 0.9990 (100% of wave A). To reduce the risk, we can use invalidation point at 1.0550 level as stop loss.

Support and Resistance
(S3) 1.0247 (S2) 1.0267 (S1) 1.0296 (PP) 1.0316 (R1) 1.0345 (R2) 1.0365 (R3) 1.0394 

Trading forecast 
Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movements. That is why short positions at the level of 1.0400 with stop loss at 1.0550 and take profit at 0.9990 are recommended. 

 

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback