Technical analysis of USD/CAD for April 17, 2015 Market Analysis Review

General overview for 17/04/2015 10:00 CET Downward wave progression in corrective wave (a) blue of wave 4 green had moved even little lower than anticipated. This is why the count changed. There is still a possibility of an upside rebound right to the level of 1.2384 and a bullish divergence seems to be supporting this scenario. Nevertheless, the market hasn't finished with the down side and after wave (b) blue is completed, wave (c) blue is expected to move downwards. Support/Resistance: 1.2141 - Intraday Support 1.2204 - Intraday Resistance 1.2250 - Intraday Resistance|Key Level 1.2276 - WS2 1.2387 - Technical Resistance Trading recommendations: Daytraders should consider opening buy orders from the current levels and set the SL below the level of 1.2141 and TP at the level of 1.2250. The material has been provided by InstaForex Company - www.instaforex.com



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