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13.11.201407:33 Forex Analysis & Reviews: Technical analysis of USD/CAD for November 13, 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 13/11/2014 06:25 CET

The alternative blue impulsive count has been invalidated due to wave -i- and wave -ii- blue overlaps. Currently, the main count is the best fit so far and this count indicates that the corrective cycle within the wave ii black continues to develop its last wave to the upside. There are three possible levels of termination and at this point it is too early to predict where exactly will the last leg up be finished. Only a new high above the level of 1.1465 would invalidate this view and put the alternative green scenario in play.

Support/Resistance:

1.1464 - Swing High

1.1426 - WR1

1.1400 - Intraday Resistance

1.1358 - Intraday Resistance

1.1344 - Weekly Pivot

1.1323 - Intraday Resistance

1.1279 - Intraday Support

1.1266 - Technical Support

Trading recommendations:

Day traders should consider opening sell orders from the indicated levels with minimal SL in case the levels will be violated. However, the ultimate SL should be placed just above the level of 1.1401.

Exchange Rates 13.11.2014 analysis

Sebastian Seliga
Analytical expert of InstaForex
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