General overview for 07/04/2015 07:10 CET
The impulsive wave progression to the upside is developing rather slowly as the market made a false upside break out yesterday. The key thing to gain in this pair is a more bullish price actions above the golden trend line and the test of the level of 1.2556 from the downside. A lack of this kind wave development is likely to result in impulsive progression invalidation and more complex and time consuming corrective cycle.
Support/Resistance:
1.2411 - Invalidation Level
1.2431 - Intraday Support
1.2506 - Intraday Resistance
1.2556 - Technical Resistance
Trading recommendations:
Daytraders should consider opening buy orders from the current market levels with SL below the level of 1.2411 and TP at the level of 1.2555.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for April 7, 2015 . Thanks for your support.
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