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Technical analysis of USD/CAD for September 23, 2016

General overview for 23/09/2016:

The market has completed the wave iii of the overall impulsive structure and now the counter-trend corrective move in wave iv is in progress. Nevertheless, it does not look like the downward wave progression is now completed as there are still sub-waves missing. The intraday bias is still to the downside.

Support/Resistance:

1.3252 – Intraday Resistance

1.3178 – Weekly Pivot

1.3124 – Intraday Support

1.3106 – WS1

1.3000 – Technical Support

1.2962 – WS2

Trading recommendations:

Day traders should close the sell orders with profit at the level of 1.3030. Currently, day traders should refrain from trading and wait for another trading setup to occur shortly.

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

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Technical analysis of USD/CAD for September 23, 2016 Reviewed by on . General overview for 23/09/2016:The market has completed the wave iii of the overall impulsive structure and now the counter-trend corrective move in wave iv is General overview for 23/09/2016:The market has completed the wave iii of the overall impulsive structure and now the counter-trend corrective move in wave iv is Rating:
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