Forex Strategy: USD/CAD Coiling for a Breakout
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- USD/CAD Technical Strategy: Flat, waiting for confirmation
- Breaking resistance in the 1.0505-54 area (trend line, 38.2% Fib) exposes 1.0669 (50% Fib)
- Support is at 1.0412 (23.6% Fib); below that exposes 1.0295 (trend line from Sep’12)
Confirm your chart-based trade setups with the Technical Analyzer.
Weekly Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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