USD/CAD Bulls Stage A Return As Doji Signals Shift In Sentiment
- USD/CAD Technical Strategy: Pending Long
- Range remains in play between 1.0810 and 1.0960
- Doji suggests indecision amongst traders
A Doji on the daily for USD/CAD suggests a potential shift in sentiment for the pair and possible push back to the range-top at 1.0960. The close of successive up-day would help confirm the potential recovery.
Daily Chart - Created Using FXCM Marketscope 2.0
Similarly the four hour chart offers an indication of a recovery for the Loonie with a Bullish Engulfing pattern emerging near intraday support at 1.0842. Sellers may look to keep the pair capped at nearby resistance offered by the 1.0890 mark.
USD/CAD: Bulls Stage A Return As Reversal Pattern Emerges
4 Hour Chart - Created Using FXCM Marketscope 2.0
By David de Ferranti, Market Analyst, DailyFX
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