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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
Real Time News
  • #Gold prices soared towards the 2013 high in the best week since June 2019. The medium-term $XAUUSD technical outlook is bullish. The week ahead will be scrutinized for signs of a top #technicalanalysis - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/02/21/Gold-Price-Technical-Forecast-Bullish-as-XAUUSD-Targets-2013-High.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/KwGYG9n7hM
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.60% 🇬🇧GBP: 0.59% 🇪🇺EUR: 0.59% 🇳🇿NZD: 0.29% 🇨🇦CAD: 0.26% 🇦🇺AUD: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/zlA41tLYcc
  • The $SPX closed a volatile week right on confluent support around 3337-3340 Holding this area will be critical going forward https://t.co/CKm6DLDYDw
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 1.49% Silver: 0.72% Oil - US Crude: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/f60M6H4z0O
  • France outlook downgraded to stable from positive by Moody's ratings - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.96%, while traders in France 40 are at opposite extremes with 75.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0eoB5BRiH6
  • Not only has an equally-weighted (USD, EUR, GBP, JPY) index of #gold charged to a fresh record high this past week, it has done so on the biggest weekly rally since January 2015 https://t.co/RmtSwlRKtK
  • $USDMXN: A rally into the 19s and then back inside the triangle could really light a fire for a top-side breakout that turns into a sustainable move to the upside. Get your USD/MXN market update from @PaulRobinsonFX here: https://t.co/zhSczLPPlw https://t.co/peLgERMQNy
  • Switzerland Outlook stable, AAA/A-1+ rating affirmed by S&P $USDCHF
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: US 500: -0.01% Wall Street: -0.02% Germany 30: -0.06% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9kz88a0m5l
USDCAD: Candles Hint at Pullback Ahead

USDCAD: Candles Hint at Pullback Ahead

2011-12-20 06:57:00
Ilya Spivak, Sr. Currency Strategist
Share:

Strategy: Flat

USDCAD put in a bearish Dark Cloud Cover candlestick pattern below resistance at 1.0411, the 76.4% Fibonacci retracement level, hinting a move lower is ahead. Entering long here doesn’t appear attractive from a risk/reward perspective however and we will remain on the sidelines for now. Initial support lines up at 1.0342, the 61.8% Fib, with a break below that exposing the 50% level at 1.0287.

USDCAD_Candles_Hint_at_Pullback_Ahead_body_Picture_5.png, USDCAD: Candles Hint at Pullback Ahead

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.