General overview for 28/07/2015 10:30 CET
The corrective cycle is still developing as the b green and c green waves are needed to complete the correction. The market is very range-bounded, but is trading above the weekly pivot and inside the bullish zone. Nevertheless, the downside breakout is expected in order to complete the c green wave. The first support comes at the level of 1.2947, but it might get easy violated.
Support/Resistance:
1.3100 - Intraday Resistance | Swing High|
1.3026 - Weekly Pivot
1.2952 - WS1
1.2947 - Intraday Support
1.2839 - WS2
Trading recommendations:
Currently, the market is consolidating the gains inside the bullish zone and daytraders should wait for a clearer pattern to appear or for the corrective cycle to get complete.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for July 28, 2015 . Thanks for your support.
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