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Thread: Technical analysis of USD/CAD By Instaforex

  1. #1
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    Default Technical analysis of USD/CAD By Instaforex

    General overview for 18/08/2014 10:00 CET

    The corrective cycle in red wave 4 has been finished. Now, the market should rebound higher and make last five impulsive waves to the upside. Please, notice that to confirm this point of view the price mustn't violate the level of 1.0857. Otherwise, the impulsive count is invalidated and the market would be in a more complex and time-consuming corrective cycle.

    Trading recommendations: Day traders and swing traders should consider opening BUY orders form the current price levels with SL below the level of 1.0857 and TP above the level of 1.0985.

    Technical analysis of USD/CAD By Instaforex-usdcad_h1-jpg

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    Default Technical analysis of USD/CAD for August 20, 2014

    General overview for 20/08/2014 13:30 CET
    The market is developing the impulsive wave to the upside, just as it was anticipated last week. The first obvious target is the recent swing at the level of 1.0984; the next target is at the level of 1.1020. A small internal corrective cycle ahead looks like a good moment to add to the existing long positions or open a new one.

    Trading recommendations:
    Buy orders opened at the beginning of the week should be still kept open with the first target at the level of 1.0984 with a very possible extension up to the level of 1.1020.
    Technical analysis of USD/CAD By Instaforex-usdcad_h1-jpg

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    Default Technical analysis of USD/CAD for August 22, 2014

    General overview for 22/08/2014 10:00 CET
    As anticipated yesterday, the five wave impulsive structure looks completed. Now, it is correction time. There are at least two main shapes that this corrective structure might unfold and it all depends where green wave b will be finished. If green wave b will be completed below the key level at 1.0946, then the shape of the corrective cycle will be a zig-zag. If the wave will break out higher into the last swing high level, then the chances are high, that the corrective cycle will be in shape of a regular/irregular flat cycle. The main support level is at the weekly pivot at the level of 1.0901.

    Trading recommendations:
    Buy orders should be closed now or trailing stop orders should be used to protect the profits on all open buy orders. It is highly recommended to wait until the corrective cycle is completed before opening another position.
    Technical analysis of USD/CAD By Instaforex-usdcad_h1-jpg

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    Default Technical analysis of USD/CAD for August 25, 2014

    General overview for 25/08/2014 10:30 CET
    Green wave b looks like it is going to be more complex and time-consuming as it is evolving into the triangle pattern. When this pattern is completed, one more wave to the downside is anticipated here, with the targets at the level of 1.0926 or 1.0911. Then, an impulsive rebound should happen that will target new highs above the level of 1.0985.

    Trading recommendations:
    Traders should wait until the corrective cycle is completed and open the buy positions to trade in the direction of the larger time frame trend. Anticipated entry levels are shown on the chart.
    Technical analysis of USD/CAD By Instaforex-usdcad_h1-jpg

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    Default Technical analysis of USD/CAD for August 26, 2014

    General overview for 26/08/2014 14:30 CET
    The corrective cycle is fully in progress and the last remaining wave to the downside is missing here. There are three main target levels for green wave c of the corrective cycle to complete. The first target is at the level of 1.0959 and the shape of the correction would be a running flat. The second target is at the level of 1.0936 and the shape of the correction would be a running flat again. The last target is at the level of 1.0920 and the shape of the correction would be an irregular flat. Please, notice that all of those corrective cycle are simple corrections and the market might evolve into more complex and time-consuming. Any breakout below the level of 1.09200 is bearish and the possibility of last swing low test would increase.

    Trading recommendations:
    Swing traders should keep the long-term buy orders still open with the SL below the level of 1.0858. Day traders should open short positions only if the level of 1.0958 is violated and this is for a quick scalp trade only with TP at the level of 1.0936. It is recommended to refrain from trading and wait for the corrective cycle to complete.
    Technical analysis of USD/CAD By Instaforex-usdcad-h1-jpg

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    Default Technical analysis of USD/CAD for August 27, 2014

    General overview for 27/08/2014 09:50 CET
    All of the projected target levels for wave c of the corrective cycle have been violated and the market still did not rebound from the sell-off. This means the corrective cycle might get more complex and time-consuming as the none of the simple corrections in shape of running or irregular flats did not work. The only last chance for a corrective cycle to rebound from the target level is at 161% of Fibo relationship between the internal corrective waves at the level of 1.0901. Any breakout lower is bearish and the market will try to test the demand zon

    Trading recommendations:
    All long positions from yesterday should be closed and traders should open the new buy orders from the level of 1.0901 with a very tight SL in case of a breakout.
    Attached Images Attached Images Technical analysis of USD/CAD By Instaforex-usdcad_h1-jpg Technical analysis of USD/CAD By Instaforex-usdcad_h4-jpg 
    Last edited by painofhell; 08-27-2014 at 17:33. Reason: image

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    Default Technical analysis of USD/CAD for August 28, 2014

    General overview for 28/08/2014 13:00 CET
    The impulsive wave progression to the downside has been developing properly during the last four days. Now, the outlook remains the same: more downside is being expected as the impulsive structure has not been completed yet. There is a possible test of the level of 136.76 but the the failure is expected and downtrend should resume. The first projected target is at the level of 135.67.

    Trading recommendations:
    The short orders from the last week are still opened and the TP is at the level of 136.70 with a quite possible downside extension to the level of 135.70.
    Attached Images Attached Images Technical analysis of USD/CAD By Instaforex-usdcad_h4-jpg 

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    Default Technical analysis of USD/CAD for August 29, 2014

    General overview for 29/08/2014 14:50 CET
    Not much has changed in this pair since yesterday as the consolidation area is still being maintained. Only a clear breakout above the level of 1.0868 would change the intraday bias to the bullish side. Please, notice the increasing bullish divergence is building on the momentum oscillator. At the moment, there is no clear direction bias, so patience is needed now.

    Trading recommendations:
    Day traders should consider opening buy orders only when the level of 1.0868 is clearly broken with SL below the level of 1.0827. Otherwise, patience is required for a clear trading pattern to emerge.
    Technical analysis of USD/CAD By Instaforex-usdcad_h4-jpg

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    Default Technical analysis of USD/CAD for September 2, 2014 By Instaforex

    General overview for 02/09/2014 10:50 CET
    There are two possible wave developments that can happen on this market and the key level seems to be the intraday resistance at the level of 1.0926. Any breakout higher favours the main count, that indicates a bullish impulsive wave progression that will make the old swing high at the first target and then will try to break even higher. The alternative count indicates more time-consuming corrective green wave 2. A little more of downside development might happen if the level of 1.0926 is not broken. The target level for green wave C of green wave 2 as well as the possible end of the alternative corrective cycle is projected at the level of 1.0740 - 1.0726.

    Trading recommendations:
    All traders who had opened buy positions should keep an eye on the level of 1.0926: breakout higher is bullish and a failure here is bearish.
    Technical analysis of USD/CAD By Instaforex-1409650359_newpicture2036-jpg

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    Default Technical analysis of USD/CAD for September 3, 2014 By Instaforex

    General overview for 03/09/2014 10:50 CET
    The technical resistance level has been broken but the market failed to rally after making this move and now is quite possible that the alternate count might be in play. The most important level currently is the intraday support at the level of 1.0876 because breakout below this level would mean, that the top for the wave B green is in place and market needs to make one more wave lower to complete overall corrective cycle. The projected target levels are still the same at the level of 1.0745 - 1.0726.

    Trading recommendations:
    Short orders should be in play only if the level of 1.0876 is violated. SL would be at the level of 1.0940 and TP at the level of 1.0745.
    Technical analysis of USD/CAD By Instaforex-usdcad_h4-jpg

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