For Traders

Analytical Reviews

Wave analysis

05.11.201411:16 Forex Analysis & Reviews: Technical analysis of USD/CAD for November 5, 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 05/11/2014 09:40 CET

The wave progression is developing as anticipated with the price making new higher highs. The projected target level of daily chart is the price zone between the levels of 1.1548 - 1.1590. Please notice that this target might be extended even higher to the level of 1.1650 before any meaningful corrective cycle takes place.

Support/Resistance:

1.1650 - Long Term Target

1.1548 - 1.1590 - Mid-Term Target

1.1462 - WR2

1.1425 - Intraday Support

1.1384 - Technical Support

1.1380 - WR1

Trading recommendations:

All buy orders advised last week should still be kept open and SL should be moved just below the level of 1.1425. First projected TP is at the level of 1.1462, it might be hit at the end of the week.

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.