27.06.201609:16 Forex Analysis & Reviews: Technical analysis of USD/CAD for June 27, 2016

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.

General overview for 27/06/2016:

The impulsive wave to the upside is developing as anticipated before with the top of wave iii at the level of 1.3097. Currently, the market is in a corrective cycle with wave iv/a already completed. Nevertheless, this internal correction might evolve into a more complex and time-consuming cycle, for example, a triangle formation. Moreover, any violation of the level of 1.28000 will invalidate the impulsive wave progression.

Support/Resistance:

1.3097 - Intraday Resistance

1.2960 - Weekly Pivot

1.2900 - Wave iv Low

1.2858 - Intraday Support

1.2800 - Wave i Top | Invalidation Level |

Trading recommendations:

All buy orders from the last week might be kept open as long as the level of 1.2800 is not clearly violated. New buy orders should be added between the levels of 1.2900 - 1.3097.

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.