The market is trying to make new highs here as it has been anticipated yesterday. Then, more upside should be seen here as there is unfinished impulsive wave progression to the upside. The next resistance is at the level of 1.1052 but on larger time frames even higher price levels can be seen as the mid-term trend is bullish.
Support/Resistance:
1.1060 - WR3
1.1002 - WR2
1.0995 - Technical Resistance
1.094 1- WR1
1.0908 - Intraday Resistance
1.0881 - Weekly Pivot
1.0820 - WS1
Trading recommendations:
Yesterday's buy orders have hit the target levels. For today, day traders should consider buying the dips with SL below the level of 1.0980 and TP at the level of 1.1052.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for September 9, 2014 . Thanks for your support.
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