General overview for 25/05/2016:
Another marginal higher high had been made, but it looks like the wave iv is still unfolding. The corrective cycle in this wave might get more complex and time-consuming, but we still expect one more wave up to unfold after the correction is completed. The projected target of 1.3218 is still valid as well.
Support/Resistance:
1.3276 – WR1
1.3218 – Projected target for wave v
1.3186 – Intraday Resistance
1.3084 – Intraday Support
1.3056 – Weekly Pivot
1.3014 – Technical Support
1.2951 – WS1
1.2771 – Technical Support
Trading recommendations:
All buy orders from last week should be still kept open as the target hasn’t been hit yet. The projected TP is still at the level of 1.3218.
The material has been provided by InstaForex Company – www.instaforex.com
The post Technical analysis of USD/CAD for May 25, 2016 appeared first on forex-analytics.press.