General overview for 28/01/2015 14:35 CET
The impulsive wave progression might have been finished with an ending diagonal structure in the last wave v black, and now the market might continue to go lower. Nevertheless, any golden trend line breakout and a new high above the level of 1.2498 invalidate this point of view and make the next weekly resistance at the level of 1.2698 in view.
Support/Resistance:
1.2698 - WR1
1.2498 - Swing High|Intraday Resistance|
1.2375 - Intraday Support
1.2320 - Weekly Pivot
1.2309 - Intraday Support
1.2181 - WS1
Trading recommendations:
After the golden trend line breakout daytraders might consider opening sell orders with SL above the level of 1.2501 and TP at the level of 1.2310.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CAD for January 28, 2015 . Thanks for your support.
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