Technical analysis of USD/CAD for December 3, 2015 Market Analysis Review

General overview for 03/12/2015 09:00 CET

The current price action suggests the wave b green is more complex and needs more time to terminate than previously was thought. A possible pattern which is unfolding now looks like a triangle. An upward spike up and then reversal is very possible after the important news release expected later today.

Support/Resistance:

1.3447 - WR1

1.3433 - Intraday Resistance

1.3362 - Weekly Pivot

1.3290 - WS1

1.3279 - Intraday Support

Trading recommendations:

Day traders should refrain from trading and wait for a better pattern to occur.

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

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