For Traders

Analytical Reviews

Wave analysis

18.09.201509:33 Forex Analysis & Reviews: Technical analysis of USD/CAD for September 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 18/09/2015 09:20 CET

The distribution pattern that was anticipated correctly as the price slides towards the important technical support level after yesterday's Fed meeting. The impulsive bearish scenario to the downside is still valid and the first confirmation will come with the supply breakthrough zone violation. The first support is then at the level of 1.3022.

Support/Resistance:

1.3022 - Technical Support

1.3072 - Technical Support

1.3087 - WS2

1.3115 - Intraday Support

1.3178 - WS1

1.3243 - Weekly Pivot

Trading recommendations:

Daytraders should consider opening sell orders from the current price levels with SL above the level of 1.3161 and TP at the level of 1.3115.

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.