Technical analysis of USD/CAD for September 14, 2016
September 14, 2016 8:15 am
General overview for 14/09/2016:
After new high has been made in this pair, this is the last chance Elliott wave count as any new high will immediately result in count invalidation. The current wave progression to the upside has been labeled as a triple complex corrective structure WXYXXZ. If the count is correct, then the market should impulsively fall towards the next support at the level of 1.3030 during the next few days.
Support/Resistance:
1.3223 – WR2
1.3190 – Intraday Resistance
1.3155 – WR1
1.3124 – Intraday Support
1.3077 – 78%Fibo
1.3031 – Intraday Support
1.2994 – Weekly Pivot
1.2935 – WS1
Trading recommendations:
Day traders are recommended to refrain from trading for now and wait for a better trading setup to occur shortly.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
General overview for 14/09/2016:
After new high has been made in this pair, this is the last chance Elliott wave count as any new high will immediately result in count invalidation. The current wave progression to the upside has been labeled as a triple complex corrective structure WXYXXZ. If the count is correct, then the market should impulsively fall towards the next support at the level of 1.3030 during the next few days.
Support/Resistance:
1.3223 – WR2
1.3190 – Intraday Resistance
1.3155 – WR1
1.3124 – Intraday Support
1.3077 – 78%Fibo
1.3031 – Intraday Support
1.2994 – Weekly Pivot
1.2935 – WS1
Trading recommendations:
Day traders are recommended to refrain from trading for now and wait for a better trading setup to occur shortly.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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