News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • 🇳🇿 Inflation Rate QoQ (Q3) Actual: 0.7% Expected: 0.9% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • 🇳🇿 Inflation Rate YoY (Q3) Actual: 1.4% Expected: 1.7% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇦🇺 Markit Services PMI Flash (OCT) due at 22:00 GMT (15min) Previous: 50.8 https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇦🇺 Markit Manufacturing PMI Flash (OCT) due at 22:00 GMT (15min) Previous: 55.4 https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇳🇿 Inflation Rate QoQ (Q3) due at 21:45 GMT (15min) Expected: 0.9% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇳🇿 Inflation Rate YoY (Q3) due at 21:45 GMT (15min) Expected: 1.7% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • White House Chief of Staff Mark Meadows says Speaker Nancy Pelosi is ready to do a stimulus deal -BBG $SPX $DJI $NDX $USD $XAU
  • Relatively quiet Canadian economic calendar through the end of October will leave CAD-crosses particularly exposed to broader risk trends, especially those in stocks and oil markets. Get your $USDCAD market update from @CVecchioFX here:https://t.co/kpUQTaO6rm https://t.co/tcmSJh9B8d
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.32% 🇨🇦CAD: 0.05% 🇦🇺AUD: -0.00% 🇯🇵JPY: -0.28% 🇪🇺EUR: -0.34% 🇬🇧GBP: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XWscJjWQHq
USD/CAD Awaiting Reversal Signal Near Range-Bottom

USD/CAD Awaiting Reversal Signal Near Range-Bottom

2014-06-19 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/CAD Technical Strategy: Pending Long
  • Range between 1.0810 and 1.0960 remains in play
  • Gravestone Doji fails to find follow-through

As noted in yesterday’s candlesticks report the June FOMC Meeting offered the potential for significant US Dollar volatility. The resulting price action has negated a Gravestone Doji on the daily for USD/CADwhich had suggested at a potential shift in sentiment for the pair. With bullish reversal signals now absent, doubt is cast over the possibility of a bounce. At the same time the range-bottom may offer some support to the Loonie and leave limited scope for further declines.

USD/CAD: Awaiting Bullish Signal Near Range-Bottom

USD/CAD Awaiting Reversal Signal Near Range-Bottom

Daily Chart - Created Using FXCM Marketscope 2.0

An examination of the four hour chart similarly reveals a notable absence of bullish signals, despite the pair pushing on noteworthy support at 108.15.

USD/CAD: Bullish Patterns Remain Missing In Intraday Trade

USD/CAD Awaiting Reversal Signal Near Range-Bottom

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, DailyFX

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES