Technical analysis of USD/CAD for Febuary 14, 2014

Symbol Bid Ask EURUSD GBPUSD USDJPY USDCHF USDCAD EURJPY EURCHF GBPJPY GBPCHF GOLD Real time market quotes Live help onlineClick here Reviews by InstaForex trader InstaForex social responsibility Suggestions of Instaforex customers Read more Technical analysis of USD/CAD for Febuary 14, 2014 2014-02-14 General overview for 14/02/2014 08:35 CET Five impulsive waves to the downside has been finished and now the market is in corrective cycle wave (iv) blue. The most important intraday level for bears is the area between the levels of 1.1026 – 1.1042. It will act as a strong resistance together with golden trend line. Pleas notice that the intraday resistance at the level of 1.0980 must be broken before any upside correction would take place. Downside momentum is diminishing and bullish divergence has been made on momentum oscillator.Support/Resistance:1.0946 – Intraday…

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General overview for 14/02/2014 08:35 CET

Five impulsive waves to the downside has been finished and now the market is in corrective cycle wave (iv) blue. The most important intraday level for bears is the area between the levels of 1.1026 – 1.1042. It will act as a strong resistance together with golden trend line. Pleas notice that the intraday resistance at the level of 1.0980 must be broken before any upside correction would take place. Downside momentum is diminishing and bullish divergence has been made on momentum oscillator.

Support/Resistance:

1.0946 – Intraday Support

1.0955 – WS1

1.0980 – Intraday Resistance

1.1026 – 1.1042 – Key Level For Bears

1.1042 – Weekly Pivot

Trading recommendations:

For intraday scalpers: if the level of 1.0980 is broken then buy orders for intraday scalp should be opened with SL below the level of 1.0946 and TP at the level of 1.0126.

For swing traders: keep the sell orders running as the downside wave progression has not been finished yet.

The material has been provided by InstaForex Company – www.instaforex.com

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Technical analysis of USD/CAD for Febuary 14, 2014

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