Your Source for Daily FOREX Market News and Analysis
Friday, 12 March 2010 GMT
FOREX ALERTS >>
- New Zealand Retailing Outperforms on Fuel, Car Sales Fri, 12 Mar 2010 03:15 GMT
- SNB Keeps Rates Unchanged, Reaffirms Commitment to Limit Franc Appreciation Thu, 11 Mar 2010 13:50 GMT
- Overnight Interest Rate Update 03.11.10 Thu, 11 Mar 2010 05:19 GMT
- Japan's GDP Report Shows Deflation Rate Doubled in Fourth Quarter Thu, 11 Mar 2010 04:37 GMT
- Australian Unemployment Rate Rises as Job Gains Disappoint Thu, 11 Mar 2010 03:29 GMT
chart of the day
Article
USD/CAD
Monday, 19 October 2009 12:52 GMT
|
Previous Articles
Print
- Mar, 11 EUR/CAD
- Mar, 10 AUD/CHF
- Mar, 09 GBP/AUD
- Mar, 08 EUR/AUD
- Mar, 04 Trading the Nonfarm Payrolls
- Mar, 03 EUR/USD
- Mar, 02 EUR/AUD
- Mar, 01 GBP/AUD
- Feb, 25 Relative Strength
- Feb, 24 EUR/CAD
- Feb, 23 EUR/AUD
- Feb, 22 EUR/USD
- Feb, 18 EUR/CAD
- Feb, 17 Identifying Trade Setups
- Feb, 16 AUD/CHF
- Feb, 15 EUR/AUD
- Feb, 04 Trading the Nonfarm Payrolls
- Feb, 03 EUR/USD
- Feb, 02 GBP/AUD
- Feb, 01 GBP/AUD
The USD/CAD is showing a strong downtrend on both the daily and the 4-hour chart and a closer look at the hourly chart shows the pair has rallied up to a resistance level and started to move back down. This is a selling opportunity.
The DailyFX Speculative Sentiment Index (SSI) also shows a pair that is poised to move further down. I have a support level plotted on the chart for potential help in timing a sell entry, but the key is to place a protective buy stop above resistance on that entry for protection in case of a trend change.
DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.
Resources
