18.12.201509:44 Forex Analysis & Reviews: Technical analysis of USD/CAD for December 18, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The main count has been slightly changed to incorporate another higher high in this market. The bearish divergence has been invalidated, which means the last wave to the upside will be extended with a high probability of a long spike up before potential reversal. The level of 1.3874 is the line in sand for bulls, because any violation of this level will cause purple count invalidation.

Support/Resistance: 1.4032 - WR 21.3926 - WR 11.3847 - Intraday Support 1.3646 - Weekly Pivot Trading recommendations:

Yesterday's TP for buy orders was hit and profits were made. For today day traders should consider buying on dips in this market with SL below the level of 1.3847 and TP at the level of 1.3984.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.