FX.co ★ Technical analysis of USD/CAD for April 27, 2015

General overview for 27/04/2016:

The count has been a little modified to incorporate the latest developments and it looks like the market is trying to complete a triple zig-zag pattern in the big wave Z brown. Currently, there is one more wave to the downside missing to complete this scenario, but first the wave (b) blue must fully unfold and terminate.

Support/Resistance:

1.3246 - WR3

1.3218 - Swing High

1.3118 - WR2

1.2989 - Technical Resistance

1.2852 - WR1

1.2749 - Intraday Resistance

1.2721 - Weekly Pivot

1.2591 - Intraday Support

1.2554 - WS1

Trading recommendations:

Currently, traders should stay aside and wait for another setup to occur shortly.