Technical analysis of USD/CAD for Febuary 5, 2014
February 5, 2014 9:25 amVideo
Latest News
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
General overview for 05/02/2014 09:30 CET
The corrective cycle in wave (ii) purple continues on this pair. There is one more wave to the upside missing according to the main count and the likely target for this wave is the grey rectangle area between the levels of 1.1135 – 1.1149. Any breakout above this area means the test of latest swing high is on the way. On the other hand, to continue with impulsive bearish wave progression, the market needs to break below the level of 1.1017.
Support/Resistance:
1.1222 – Swing High
1.1213 – WR1
1.1135 – 1.1149 – Demand Breakthrough Zone
1.1121 – Weekly Pivot
1.1095 – Intraday Resistance
1.1046 – Intraday Support
1.1017 – Technical Support
Trading recommendations:
Breakout above golden trend line is bullish and first aggressive buy stop orders might be opened from this area, but more conservative trader might want to wait for the level of 1.1095 is broken and then open long positions with SL below the level of 1.1046 and TP at the level of 1.1135.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: