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FX.co ★ Technical analysis of USD/CAD for July 3, 2015

Technical analysis of USD/CAD for July 3, 2015

General overview for 03/07/2015 13:25 CET

The top for the wave 3 seems to be in place now and the market started a corrective cycle to the downside. The first wave of the cycle has been made and now the top for the wave b purple is in progress. The target for wave b might be the intraday resistance at the level of 1.2580.

Support/Resistance:

1.2632 - Wave 3 Top

1.2616 - WR3

1.2580 - Intraday Resistance

1.2537 - WR2

1.2500 - Intraday Support

Trading recommendations:

Daytraders should consider opening sell orders from current market levels with SL above the level of 1.2581 and TP at the level of 1.2500.

Technical analysis of USD/CAD for July 3, 2015

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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