Technical analysis of USD/CAD for May 4, 2015
May 4, 2015 9:00 amVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
General overview for 04/05/2015 10:20 CET
The market is still trying to make higher highs after bouncing from monthly Fibonacci support level at the level of 1.2023, but the real resistance is the zone between the levels of 1.2325 – 1.2351. Only a sustained breakout above this level would be considered as a mid-term bullish wave progression. On the other hand, any new low below the level of 1.1944 invalidates the bullish scenario.
Support/Resistance:
1.1944 – Swing Low
1.2029 – WR1
1.2115 – Weekly Pivot
1.2132 – Intraday Support
1.2202 – Intraday Resistance
1.2286 – WR1
Trading recommendations:
Buy orders opened last week should be still kept open as the market approaches the key resistance at the level of 1.2325. A higher breakout means another buy orders should be opened with SL below the swing low at the level of 1.1943.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: