Technical analysis of USD/CAD for September 11, 2014 Market Analysis Review

General overview for 11/09/2014 :15:15 CET

The current Elliott wave count has been little modified as the top for wave -iii- blue has been moved higher to emphasis the corrective cycle in wave 0iv-, which is more complex than wave -ii- blue. Currently, the upward wave progression is not completed and one more wave to the upside is needed to finish red wave 3. After that completion, the corrective cycle in red wave 4 red will begin.

Support/Resistance:

1.1064 - WR3

1.1052 - Technical Resistance

1.1003 - Intraday Resistance

1.1002 - WR2

1.0971 - Intraday Support

Trading recommendations:

Buying the dips in this pair is the way to trade the whole week and today is no different. TP is at the level of 1.1060.

The material has been provided by InstaForex Company - www.instaforex.com



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