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10.07.201508:17 Forex Analysis & Reviews: Technical analysis of USD/CAD for July 10, 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.

General overview for 10/07/2015 08:10 CET

The corrective cycle is developing as anticipated with the last sub-wave down in progress now. The first support comes at the level of 1.2674 and the next one at the level of 1.2631. Please notice the corrective cycle might extend its drop as low as the weekly pivot at the level of 1.2536. Nevertheless, the near-term bias is still bullish.

Support/Resistance:

1.2536 - Weekly Pivot

1.2631 - Intraday Support (strong)

1.2674 - Intraday Support (weak)

1.2741 - Intraday Resistance

1.2770 - WR1

Trading recommendations:

Daytraders should consider opening sell orders only if the level of 1.2674 is violated ( H1 candle close below this level) with SL above the level of 1.2741 and TP at the level of 1.2631.

Exchange Rates 10.07.2015 analysis

Sebastian Seliga
Analytical expert of InstaForex
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