FX.co ★ Technical analysis of USD/CAD for November 17, 2015

General overview for 17/11/2015 06:30 CET

There is one more possibility in current wave development to follow, an ending diagonal structure in the lat wave alt:-v-. This structure will be confirmed if the market breaks the black line around the level of 1.3317 and a decline lower to the level of intraday support at 1.3266.

Support/Resistance:

1.3375 - WR1

1.3368 - Intraday Resistance

1.3317 - Key Level

1.3298 - Weekly Pivot

1.3266 - Intraday Support

1.3250 - WS1

Trading recommendations:

Day traders should consider placing sell orders only is the level of 1.3317 is violated. SL orders should be placed then above the level of 1.3368 and TP at the level of 1.3266.