Technical analysis of USD/CAD for November 30, 2015 Market Analysis Review

General overview for 30/11/2015 07:20 CET

Upward wave development does not look completed yet as there are some internal sub-waves missed. A target is still seen at the level of 1.3433, but the wave progression might extend beyond that level. The first hurdle for bulls will be the golden trend-line dynamic resistance and any breakout above will be first indication that bulls are taking control over market.

Support/Resistance:

1.3447 - WR1

1.3433 - Intraday Resistance

1.3362 - Weekly Pivot

1.3338 - Intraday Support

1.3290 - WS1

Trading recommendations:

Day traders should consider playcing buy orders from current market levels with SL below the level of 1.3338 and TP at the level of 1.3433.

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

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