For Traders

Analytical Reviews

Wave analysis

18.03.201510:49 Forex Analysis & Reviews: Technical analysis of USD/CAD for March 18, 2015

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 18/03/2015 09:35 CET

The current price consolidation between the levels of 1.2821 - 1.2736 is getting more complex and time-consuming as the market is waiting for important Fed's news release later today. A breakout might happen any time now and the downward spike to the level of 1.2596 is needed to complete the current corrective cycle. The longer term bias still remains bullish.

Support/Resistance:

1.2917 - WR1

1.2821 - Intraday Resistance

1.2746 - Weekly Pivot

1.2732 - Intraday Support

1.2668 - WS1

1.2596 - Technical Support

Trading recommendations:

The market is still consolidating and the trading advise is still valid. Daytraders should consider opening buy orders if:

- the level of 1.2821 is clearly violated with a minimum H1 close above this level. SL should be tight (10-20 pips), TP should be placed at the level of 1.2917.

- the level of 1.2704 provided a clear bounce to the upside, SL should be tight (10-20 pips), TP should be placed at the level of 1.2917.

- the level of 1.2596 provided a clear bounce to the upside, SL should be tight (10-20 pips), TP should be placed at the level of 1.2917.

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.