FX.co ★ Technical analysis of USD/CAD for November 12, 2015

General overview for 12/11/2015 07:30 CET

The corrective cycle in wave b green (alt:-iv-) might be terminated anytime now. An outlook is still bullish as there is one more wave to the upside missed. 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 levels with SL below the level of 1.3239 and TP at the level of 1.3316.