FX.co ★ Technical analysis of USD/CAD for November 16, 2015

General overview for 16/11/2015 08:10 CET

In an alternative count, the five wave impulsive upward structure looks completed, but there is still a chance for one more push higher to complete the wave c green. Only a sustained breakout below the level of 1.3222 would change the short-term outlook.

Support/Resistance:

1.3375 - WR1

1.3348 - Intraday Resistance

1.3298 - Weekly Pivot

1.3266 - Intraday Support

1.3250 - WS1

Trading recommendations:

Day traders should refrain from trading until better trading setup occurs.