News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • The British Pound has bounced off its low against USD while it’s trapped in wide ranges against the EUR and CHF. How long will GBP be tied to its Continental Europe constituents? Find out here:
  • (Weekly Fundy) Australian Dollar Outlook: AUD/USD Back on the Offensive as Covid Restrictions Ease #AUD $AUDUSD #Covid
  • The Australian Dollar is seemingly back on the offensive as lockdowns ease in Sydney and Melbourne. Improving sentiment may allow AUD/USD to capitalize on rising equities and commodity prices. Get your weekly $AUD forecast from @ddubrovskyFX here:
  • The Dow Jones and S&P 500 appear to be vulnerable as retail traders continue to buy into their pullbacks. This is shown via IGCS, which is typically a contrarian indicator. Get your market update from @ddubrovskyFX here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • GBP/USD extends the advance following the US Consumer Price Index (CPI) to trade to a fresh monthly high (1.3773). Get your $GBPUSD market update from @DavidJSong here:
  • RT @Live_News_Nick: #Bitcoin
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.55% 🇳🇿NZD: 0.52% 🇨🇦CAD: 0.06% 🇨🇭CHF: 0.03% 🇪🇺EUR: 0.02% 🇯🇵JPY: -0.51% View the performance of all markets via
  • The S&P 500 closed out the week in style, making a clear break above trendline resistance. Eyes now shift to the bulk of earnings season $SPX $SPY $ES_F
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.20% Silver: -0.83% Gold: -1.60% View the performance of all markets via
USD/CAD Pending Bullish Breakout

USD/CAD Pending Bullish Breakout

Walker England, Forex Trading Instructor

Market Condition: USD/CAD Pending Breakout

Target 1:______2X ATR at 1.3948

Target 2:______4X ATR at 1.4102

USD/CAD Daily Chart with Yearly High

USD/CAD Pending Bullish Breakout

(Created Using IG Charts)

The USD/CAD has retraced off of its yearly highs, to test a key value of support at 1.3600. If prices remain supported, traders may begin looking for new breakout opportunities over the standing 2017 high at 1.3794. Current daily ATR for the USD/CAD reads at 77 pips. Traders looking for a 2X ATR pricing target may set initial orders to take profit near 1.3948. Further extensions include a 4X ATR profit target near 1.4102. Traders may also consider using ATR to manage risk. A 1X ATR stop loss at 1.3717 may be considered to create an initial 1:2 risk/reward ratio.

In the event that the USD/CAD fails to breakout to a higher high, traders should watch for the pair to decline beneath 1.3600. A move below this price may suggest that a larger bearish correction is occurring. In this scenario, traders may elect to delete any pending orders to buy the market while looking for other breakout opportunities elsewhere.

--- Written by Walker, Analyst for

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at hisBio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.