FX.co ★ Technical analysis of USD/CAD for October 22, 2015

General overview for 22/10/2015 09:30 CET

The market has broken the level of 1.3079 and closed above it. Currently, the leading diagonal scenario is successfully developing. However, we can observe a a correction now. The support level for anticipated wave (ii) green is the zone between the levels of 1.3040 and 1.3000.

Support/Resistance:

1.3145 - Intraday Resistance

1.3079

1.3067 - WR1

1.2935 - Weekly Pivot

1.2938 - Invalidation Level

Trading recommendations:

All buy orders hit the TP level and now day traders should wait for a corrective cycle to complete before opening another buy orders in this pair.