Technical Analysis of USD/CAD for April 27, 2015
General overview for 27/04/2016:
The count has been a little modified to incorporate the latest developments and it looks like the market is trying to complete a triple zig-zag pattern in the big wave Z brown. Currently, there is one more wave to the downside missing to complete this scenario, but first the wave (b) blue must fully unfold and terminate.
Support/Resistance:
1.3246 - WR3
1.3218 - Swing High
1.3118 - WR2
1.2989 - Technical Resistance
1.2852 - WR1
1.2749 - Intraday Resistance
1.2721 - Weekly Pivot
1.2591 - Intraday Support
1.2554 - WS1
Trading recommendations:
Currently, traders should stay aside and wait for another setup to occur shortly.
The material has been provided by InstaForex Company - www.instaforex.com
