11.09.201416:27 Forex Analysis & Reviews: Technical analysis of USD/CAD for September 11, 2014

Long-term review

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General overview for 11/09/2014 :15:15 CET

The current Elliott wave count has been little modified as the top for wave -iii- blue has been moved higher to emphasis the corrective cycle in wave 0iv-, which is more complex than wave -ii- blue. Currently, the upward wave progression is not completed and one more wave to the upside is needed to finish red wave 3. After that completion, the corrective cycle in red wave 4 red will begin.

Support/Resistance:
1.1064 - WR3
1.1052 - Technical Resistance
1.1003 - Intraday Resistance
1.1002 - WR2
1.0971 - Intraday Support

Trading recommendations:
Buying the dips in this pair is the way to trade the whole week and today is no different. TP is at the level of 1.1060.

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