Technical analysis of USD/CAD for November 23, 2016 888011000 110888

General overview for 23/11/2016:

Bulls have actually managed to retrace 50% of the previous relocation down and now the marketplace is decreasing to the intraday assistance at the level of 1.3378. This is why the intraday support is the crucial level for daytraders as any breakout listed below it will confirm the wave c (green) is in progress. The predicted target zone for the wave c (green) is the need zone between the levels of 1.3290 and 1.3312.

Support/Resistance:1.3596 – WR1

1.3566 – Intraday Resistance

1.3497 – Weekly Pivot

1.3419 – WS1

1.3378 – Intraday Assistance

1.3308 – WS2

Trading recommendations:

The corrective upward wave development will be completed, so this is why daytraders should consider opening just offer orders with tight SL and TP open for now.

analytics58357e0f80084.jpg

The product has actually been offered by InstaForex Business- www.instaforex.com

By | November 23, 2016

General overview for 23/11/2016: Bulls have handled to retrace 50 % of the previous relocation down and now the marketplace is decreasing to the intraday assistance at the level of 1.3378. This is why the intraday assistance is the essential level for daytraders as any breakout below it will validate the wave c (green) remains in development. The forecasted target zone for the wave c (green) is the need zone between the levels of 1.3290 and 1.3312.

Support/Resistance:1.3596 – WR1

1.3566 – Intraday Resistance

1.3497 – Weekly Pivot

1.3419 – WS1

1.3378 – Intraday Support

1.3308 – WS2

Trading recommendations:

The restorative upward wave development will be completed, so this is why daytraders should consider opening just offer orders with tight SL and TP open for now.

analytics58357e0f80084.jpg

The product has been supplied by InstaForex Business –
www.instaforex.com

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