For Traders

Analytical Reviews

Wave analysis

01.09.201508:31 Forex Analysis & Reviews: Technical analysis of USD/CAD for September 1, 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 01/09/2015 08:00 CET

An anticipated wave c purple to the upside did not materialize so far, and the market was too weak to breakout above the recent swing high. The count has been adjusted accordingly, showing the prospects of a top for wave X brown or the larger cycle top for wave 5 purple of wave B purple. Please notice, that the top confirmation comes with further decline and breakout below the level of 1.3000.

Support/Resistance:

1.3352 - Wave -v- Top

1.3319 - WR1

1.3229 - Weekly Pivot

1.3196 - Intraday Resistance

1.3115 - Intraday Support

1.3108 - WS1

1.3017 - WS2

Trading recommendations:

Swingtraders should close their long-term buy orders and wait for the further confirmation of a higher-degree corrective cycle.

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.