FX.co ★ Technical analysis of USD/CAD for October 5, 2015

General overview for 05/10/2015 10:00 CET

The wave c green has retraced 78% of the recent swing up and the bullish divergence if giving clues about a possible rebound coming soon. Please notice that as long as the technical support at the level of 1.3010 is not clearly violated, the preferred count is still an ending diagonal, which means there might be another top sooner or later.

Support/Resistance:

1.3455 - Swing High

1.3310 - WR1

1.3229 - Weekly Pivot

1.3147 - Intraday Resistnace

1.3178 - Intraday Support

1.3010 - Technical Support

1.3000 - WS1

Trading recommendations:

Daytraders should consider opening buy orders from current market levels with SL below the level of 1.3000 and TP at the level of 1.3229.