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 Technical analysis of USD/CAD for August 18, 2014

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Male Posts : 669
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PostSubject: Technical analysis of USD/CAD for August 18, 2014   Mon Aug 18, 2014 2:43 pm

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General overview for 18/08/2014 10:00 CET

 The corrective cycle in red wave 4 has been finished. Now, the market should rebound higher and make last five impulsive waves to the upside. Please, notice that to confirm this point of view the price mustn't violate the level of 1.0857. Otherwise, the impulsive count is invalidated and the market would be in a more complex and time-consuming corrective cycle. 

Trading recommendations: Day traders and swing traders should consider opening BUY orders form the current price levels with SL below the level of 1.0857 and TP above the level of 1.0985.

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Technical analysis of USD/CAD for August 18, 2014

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