For Traders

Analytical Reviews

Wave analysis

27.03.201510:31 Forex Analysis & Reviews: Technical analysis of USD/CAD for March 27, 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 27/03/2015 09:20 CET

As anticipated yesterday, the bottom for the wave (b) blue should be in place now and market is trying to rally upward in first possible wave 1. To confirm that scenario, the price has to break out above the level of 1.2540 and head up higher in impulsive way. Please notice that only a sustained breakout below the invalidation line at the level of 1.2388 is going to make this scenario invalidated.

Support/Resistance:

1.1933 - 1.1803 - Demand Zone

1.2352 - 1.2379 - Key Zone

1.2388 - Invalidation Level

1.2540 - Intraday Resistance

Trading recommendations:

There are two scenarios for mid-term trading decisions for daytraders and swingtraders:

-If the level of 1.2388 is violated to the downside, daytraders and swingtraders should consider opening sell orders on any rally up with SL above the level of 1.2540 and TP open for now

-If the level of 1.2540 is violated to the upside, daytraders and swingtraders should consider opening buy orders from any retrenchment level with SL below the level of 1.2388 and TP open for now.

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.