USD/CAD M30 analysis for 06/08/2013
August 6, 2013 8:45 amVideo
Latest News
- Video market update for May 09, 2024 May 9, 2024
- Analysis of EUR/USD pair on May 9th. Euro woke up after the Bank of England meeting May 9, 2024
- Analysis of GBP/USD pair on May 9th. Andrew Bailey did all he could May 9, 2024
- USD/JPY: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- GBP/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- EUR/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- Technical Analysis – GBPUSD retreats further after BoE’s decision May 9, 2024
- Technical Analysis – UK 100 index swings to all-time high May 9, 2024
- GBP/USD: trading plan for the US session on May 9th (analysis of morning deals). The pound continues to be held within the May 9, 2024
- EUR/USD: trading plan for the US session on May 9th (analysis of morning deals). The euro rebounded from 1.0726 May 9, 2024
- EUR/USD. May 9th. Bulls have exhausted their strength May 9, 2024
- GBP/USD. May 9th. Bulls fear Bailey’s “soft” rhetoric May 9, 2024
- Midweek Technical Look – EURUSD, Gold, US 500 May 9, 2024
- Technical Analysis – EURCHF flirts with uptrend line May 9, 2024
- Technical Analysis – EURGBP runs out of steam near 0.8600 May 9, 2024
- Forex forecast 05/09/2024: EUR/USD, GBP/USD, Oil and Bitcoin from Sebastian Seliga May 9, 2024
- USD/JPY: trading tips for beginners for European session on May 9 May 9, 2024
- Technical Analysis – USDJPY advances after bouncing off 50-day SMA May 9, 2024
- Market Comment – Pound slides ahead of Bank of England decision May 9, 2024
- Technical Analysis – NZDUSD bulls face strong resistance May 9, 2024
General overview on 06/08/2013 08:00 CET:
The price had been testing the level of 1.0400 for three times but it got no success, and then broke the intraday support (now resistance) and stopped at Weekly Pivot area at 1.0350.
So far the correction is in three waves and might be finished, but to confirm this, the price must break the Intraday Resistance level at 1.0377 and then create a new high. Otherwise more complex and time consuming corrective cycle might be seen and Intraday Support at 1.0335 is the first level to be tested. If it fails, next one is WS1 at 1.0309.
Support/Resistance:
1.0400 – Swing high
1.0396 – 78% Fibo | SUPPLY ZONE |
1.0377 – Intraday resistance
1.0355 – Weekly pivot
1.0335 – Intraday support
1.0307 – WS1
1.0244 – Swing low
Trading recommendations:
If Intraday resistance at 1.0377 holds the line, then short positions should be in play from this level with SL above 1.04000 and TP at 1.0335.
If Intraday resistance is broken, then new highs are in view and long positions should be in play with SL below 1.0377 and TP at 1.0445.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: