- Overnight Interest Rate Update 02.09.10 Tue, 09 Feb 2010 05:24 GMT
- RICS Survey Hints UK House Prices May Decline as Supply Swells Tue, 09 Feb 2010 04:41 GMT
- UK Retail Sales Growth Worst in 15 Years in January, says BRC Tue, 09 Feb 2010 02:19 GMT
usd-cad
Article
Previous Articles
Print
- Feb, 05 USDCAD: Move Past Range Top to Expose Long Entry
- Jan, 29 USDCAD: Long Entry Sought on Resistance Break
- Jan, 22 USDCAD: Prices Race Higher to Challenge Key Resistance
- Jan, 15 USDCAD: Bullish Signs Re-Emerge Above 1.02 Level
- Jan, 08 USDCAD: Long Trade Cut as 1.04 Gives Way
- Dec, 22 USDCAD: Ascending Triangle Hints at Bullish Breakout Ahead
- Dec, 11 USDCAD: Remain Long as Consolidation Continues
- Dec, 07 USDCAD: Bias Remains Bullish Amid Consolidation
- Nov, 27 USDCAD: Remain Long as Canadian Dollar Extends Losses
- Nov, 13 USDCAD: Long Position Opened as Prices Yield Bullish Reversal Signal
- Oct, 30 USDCAD: Bullish Breakout One Step Closer to Reality
- Oct, 23 Canadian Dollar Shows Early Signs of Ebbing Strength
- Oct, 16 Canadian Dollar Pushes Higher But Conviction Waning
USD/CAD
Strategy: Long at 1.0558, Targeting 1.0875
Weekly Profit / Loss: +108 pips
Last week, we entered long USDCAD as prices put in a formidable Bullish Engulfing pattern on a re-test of broken resistance at the top of a falling channel that had guided prices lower since the swing high in March. The pair has indeed moved higher and we will remain long, initially targeting the 11/02 wick high at 1.0875. A stop-loss will be activated on a daily close below 1.0415.
For streaming currency market news and analysis, please visit http://forexstream.dailyfx.com
To reach Ilya regarding this article or subscribe to his email distribution list, please contact him at ispivak@dailyfx.com
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
