22.07.201409:44 Forex Analysis & Reviews: Technical analysis of USD/CAD for July 22, 2014

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 22/07/2014 08:45 CET

Not much development on this pair has occurred since yesterday's analysis. So, let me remind you again of the current situation. Any breakout below the level of 1.0711 confirms the main bearish view and lower levels should be expected then. Nevertheless, any breakout higher above the key level invalidates the main bearish impulsive count. Please notice, that the medium outlook remains bearish and only a sustained violation of the level of 1.0794 invalidates this view.

Support/Resistance:

1.0794 - Swing High

1.0775 - WR1

1.0765 - Intraday Resistance

1.0741 - Weekly Pivot

1.0726 - Intraday Support

1.0695 - Techncial Support

Trading recommendations:

Swing and day traders should keep the short positions open with SL above the level of 1.0794 and TP below the level of 1.0625

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.