Technical analysis of USD/CAD for November 10, 2015 Market Analysis Review

General overview for 10/11/2015 08:50 CET

Wave labeled as alt-iv might be completed, and the market might be ready for reaching another higher high. Please notice that the key level for this wave progression is a weekly pivot at the level of 1.3239, and the invalidation line for an alternative impulsive count is seen at the level of 1.3190.

Support/Resistance:

1.3316 - Intraday Resistance

1.3239 - Weekly Pivot

1.3190 - Intraday Support

1.3162 - WS1

Trading recommendations:

Day traders should consider placing buy orders at current price levels with SL below the level of 1.3239 and TP at the level of 1.3316.

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

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