FX.co ★ USD/CAD H1 analysis for November 12, 2013

General overview for 22/11/2013 07:50 CET:

The upside wave progression has been anticipated all this week and finally materialised.

The wave development is not finished yet, and there is more upside to come in soon.

Anyway, for intraday trading the main support here for wave (iv) is the 1.0524 - 1.0514 zone that used to be supply zone yeasterday. To keep the bullish momentum going this level must hold.

Support/Resistance:

1.0548 - WR2

1.0545 - Intraday High

1.05025 - Intrdaay Support

1.0514 - Triangle Support

1.0506 - Technical Support

1.0481 - WR1

Trading recommendations:

The upside wave progression has not been finished yet and more upside price actions are anticipated.

Buy on dips from the area of 1.0514 - 1.0506 with TIGH SL and potential TP at 1.5071.