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 January 12, 2016

General overview for 12/01/2016:

Yesterday's swing high has been broken and this is why the main count has been invalidated. When we take a look at a higher time frame like H4, the wave progression still looks impulsive, but the projected target levels are rather close to the current price. Moreover, there is still no sign of the overbalance and price is still trading inside the dashed blue channel. The projected target for the wave 5 at the level of 1.4271 might be hit, but if wave 5 gets extended to the upside, further price targets are 1.4396 and 1.4551.

Support/Resistance:

1.4355 - WR1

1.4271 - Wave 5 Target Projection

1.4186 - Intraday Support

1.4098 - Weekly Pivot

1.4046 - Intraday Support

1.4010 - WS1

Trading recommendations:

Daytraders should consider to open sell orders from the level of 1.4271 with SL just above and TP at the level of 1.4186.

usdcad_h4.jpg

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