General overview for 01/07/2015 09:15 CET
As anticipated yesterday, the violation of the level of 1.2421 was a bullish sign and market went as high as the level of 1.2510. Moreover, the alternative wave count looks completed now because the last wave up might be considered the wave Z in triple zig-zag pattern (which is very common for wave B). Nevertheless, the bullish impulsive count is valid as long as the intraday support at the level of 1.2421 is violated.
Support/Resistance:
1.2128 - WS2
1.2245 - WS1
1.2332 - Weekly Pivot
1.2421 - Intraday Support
1.2447 - WR1
1.2537 - WR2
Trading recommendations:
The near-term bias is still bullish and daytraders should consider opening buy orders as long as the level of 1.2421 is violated.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for July 1, 2015 . Thanks for your support.
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