Technical analysis of USD/CAD for September 22, 2015 Market Analysis Review

General overview for 22/09/2015 09:30 CET

The golden trend-line dynamic resistance has been violated and market is about to test the level of 1.3309. Any breakout at this level will immediately invalidate the green impulsive count pushing the price towards next higher highs above the level of 1.3353 as wave 5 purple unfolds.

Support/Resistnace:

1.3353 - Swing High

1.3309 - Green Impulsive Count Invalidation Level

1.3264 - Intraday Resistance

1.3184 - Weekly Pivot

1.3173 - Intraday Support

Trading recommendations:

Daytraders and swingtraders should consider opening sell orders with SL above the level of 1.3309 and open TP for now. If a breakout takes place at the level 1.3309, no sell orders should be opened as the market might be heading towards a new high above the level of 1.3355.

The material has been provided by InstaForex Company - www.instaforex.com

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