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Forex Strategy: USD/CAD Coiling for a Breakout

Forex Strategy: USD/CAD Coiling for a Breakout

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • 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.

Forex_Strategy_USDCAD_Coiling_for_a_Breakout_body_Picture_5.png, Forex Strategy: USD/CAD Coiling for a Breakout

Weekly Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

Contact and follow Ilya on Twitter: @IlyaSpivak


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