Technical analysis of USD/CAD for July 14, 2014
July 14, 2014 8:35 amVideo
Latest News
- Analysis of EUR/USD pair on May 24, 2024 May 24, 2024
- Analysis of GBP/USD pair on May 24th. Another British report showed weakness, but who cares? May 24, 2024
- USD/JPY: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- GBP/USD: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- EUR/USD: Simple trading tips for novice traders for May 24th (US session) May 24, 2024
- GBP/USD: trading plan for the US session on May 24th (analysis of morning deals). Sellers missed 1.2700 May 24, 2024
- EUR/USD: trading plan for the US session on May 24th (analysis of morning deals). The euro is not going to give up May 24, 2024
- EUR/USD. May 24th. The bears are starting to go on the offensive May 24, 2024
- Forecast of GBP/USD pair on May 24, 2024 May 24, 2024
- Trading Signals for EUR/USD for May 24-28, 2024: sell below 1.0864 (200 EMA – 21 SMA) May 24, 2024
- Trading Signals for GOLD (XAU/USD) for May 24-28, 2024: buy above $2,333 (200 EMA – oversold) May 24, 2024
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
General overview for 14/07/2014 09:20 CET
The last corrective wave to the upside labeled as wave Y brown is developing as anticipated. There are two possible target levels for wave Y brown termination. The first level is 38% Fibonacci retracement of the whole wave 1 and it is at the level of 1.0754. The second target zone is at the level of 1.0793 which is 50% Fibonacci retracement. Please, notice that the momentum indicator starts to diverge from the price and this is typical indication for a possible top in this pair. Any breakout below intraday support at the level of 1.0724 confirms the bearish case.
Support/Resistance:
1.0793 – 50%Fibo
1.0786 – WR2
1.0754 – 38%Fibo
1.0724 – Intraday Support
1.0708 – Weekly Pivot
1.0695 – Technical Support
1.0680 – WS1
1.0602 – WS2
Trading recommendations:
Daytraders and swingtraders might consider to open short positions from the level of 1.0754 (aggressive entry) and 1.0793 (classic entry) with SL above the level of 1.0803 and TP open for now on.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: