MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

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.


Support/Resistance:


1.0901 - Weekly Pivot


1.0926 - Intraday Support


1.0946 - Intraday Resistance


1.0944 - WR1


1.0984 - Swing High


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.


usdcad_h1.jpgThe material has been provided by InstaForex Company - www.instaforex.com