USD/CAD Bulls May Return Post Gravestone Doji Near Support
- USD/CAD Technical Strategy: Pending Long
- Range between 1.0810 and 1.0960 remains in play
- Gravestone Doji may herald recovery to range-top
A Gravestone 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 an ensuing up-day has helped confirm the bullish signal paves the way for a further recovery.
Daily Chart - Created Using FXCM Marketscope 2.0
The Bullish Engulfing pattern that appeared near support at 1.0842 on the four hour chart offered an early indication of a potential recovery for USD/CAD. However further gains in the session ahead hinge on a close above notable resistance at 1.0870.
USD/CAD: Bulls Pause Near Key Resistance Post Reversal Pattern
4 Hour Chart - Created Using FXCM Marketscope 2.0
By David de Ferranti, Market Analyst, DailyFX
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