empty
 
 
07.09.2016 10:09 AM
Technical analysis of USD/CAD for September 7, 2016

General overview for 07/09/2016:

The full five waves in sub-wave a are now completed, so the next wave progression should develop to the upside in the form of wave b. The projected target is recently violated the golden trend line zone, just above the intraday resistnace at the level of 1.2886. The clearly visible bullish divergence between the price and momentum oscillator supports the view.

Support/Resistance:

1.3191 - WR2

1.3147 - Technical Resistance

1.3069 - WR1

1.3025 - Weekly Pivot

1.2903 - WS1

1.2886 - Intraday Resistance

1.2859 - WS2

1.2831 - Intraday Support

Trading recommendations:

Daytraders should consider opening buy orders from current price levels with SL just below the intraday support at the level of 1.2831 and TP at the level of 1.2900.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $6000 more!
    In December we raffle $6000 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback