General overview for 29/10/2015 09:00 CET
The updated labeling of the hourly chart suggests a possible continuation of the corrective cycle in the wave 4 purple instead of an impulsive wave progression to the upside. There is still a possibility of another higher high in the wave 5 purple, but the recent developments in lower time frames does not support this view. The current labeling will be invalidated if the level of 1.3276 is violated.
Support/Resistnace:
1.3316 - WR1
1.3276 - Local High
1.3223 - Intraday Resistance
1.3109 - Weekly Pivot
1.3089 - Intraday Support
Trading recommendations:
All buy orders should now be closed and day traders should refrain from trading until next trading setup occurs.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for October 29, 2015 . Thanks for your support.
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