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usd-cad
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Previous Articles
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- Mar, 19 USDCAD: Fib Extension Stalls Sellers After Support Break
- Mar, 12 USDCAD: Indecision at Support May Bring Upswing
- Mar, 05 USDCAD: Prices Find Channel Support, Hint Reversal
- Feb, 26 USDCAD: Long Entry Sought as Resistance Gives Way
- Feb, 19 USDCAD: Selling Pauses at Familiar Support, Long Entry to Follow
- Feb, 12 USDCAD: Futher Losses LIkely on Trend Line Break
- 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, 07 USDCAD: Bias Remains Bullish Amid Consolidation
- Nov, 27 USDCAD: Remain Long as Canadian Dollar Extends Losses
- Nov, 20 USDCAD: Long Trade Yields Profits as US Dollar Rebounds
- 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: -86 pips
Total Profit / Loss: -28 pips
We entered long USDCAD at 1.0558 as prices put in a Bullish Engulfing pattern on a re-test of resistance at the top of a falling channel that had guided prices lower since March. The pair has been trading sideways over recent weeks but the Engulfing signal has not been invalidated and we will remain long, continuing to target the 11/02 wick high at 1.0875. A stop-loss will be activated on a daily close below 1.0415.
To discuss these strategies with other traders, please visit the Candlestick Forum
To receive future articles by email, please contact Ilya at ispivak@dailyfx.com
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