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.

Search results
No entries matching your query were found.
English Español Français Deutsch 中文（繁體） 中文（简体）
Free Trading Guides
EUR/USD
Bullish
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
News
Euro Stable as ECB Leaves Rates Unchanged, Pledges Strategic Review
2019-12-12 14:00:00
EUR/USD Outlook Ahead of ECB, Post-FOMC Analysis
2019-12-12 07:30:00
GBP/USD
Bearish
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
News
GBP/USD Braced for Highest Volatility Since EU Referendum, Eyes on UK General Election
2019-12-12 11:00:00
Brexit Briefing: Voters Head to the Polls in UK General Election
2019-12-12 09:00:00
USD/JPY
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
News
US Recession Watch, December 2019 - Recession Odds Down on US-China Trade Deal Hopes
2019-12-11 16:00:00
China Makes a Bet Against the US Dollar as World Reserve Currency
2019-12-11 15:00:00
Gold
Bearish
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
News
Gold Price Forecast: Rally Fails at Downtrend Resistance - Next Levels for XAU/USD
2019-12-12 16:18:00
Gold price outlook: uptick post FOMC but investors remain wary of tariff developments
2019-12-12 10:30:00
Oil - US Crude
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
News
Crude Oil Prices Meet Trend Resistance, Near-term Turn Lower Looks Next
2019-12-12 12:00:00
Crude Oil Prices May Fall as the Fed Strikes a Cautious Tone
2019-12-11 03:01:00
Bitcoin
Bullish
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
News
Bitcoin Price Forecast: Bulls Retreat as BTCUSD Threatens Breakdown
2019-12-09 19:30:00
Emerging Markets Crisis Monitor - Seven Factors Traders Should Watch
2019-12-05 15:00:00
More View more
Breaking news

ECB leaves all rates unchanged in line with expectations

Real Time News
  • RT @onlyyoontv: Source close to talks tells me US offer in @WSJ story is true. One add: snapback is *two-way*- so Chinese would also have r…
  • RT @charliebilello: Semiconductor returns this year... $NVDA: +66% $INTC: +26% $AVGO: +32% $QCOM: +66% $TNX: +38% $TSM: +64% $LRCX: +112% $…
  • US Eight-Week Bills Draw 1.540% Primary Dealers Awarded: 43.4% Indirect Bidders Awarded: 53.9% Direct Bidders Awarded: 2.6% B/C Ratio: 2.69
  • US Four-Week Bills Draw 1.540% Primary Dealers Awarded: 42.00% Indirect Bidders Awarded: 46.6% Direct Bidders Awarded: 11.5% B/C Ratio 2.59
  • US Treasury Yields Update: 2-Year: 1.666% 3-Year: 1.689% 5-Year: 1.726% 7-Year: 1.831% 10-Year: 1.894% 30-Year: 2.331% $TNX
  • Investor focus has shifted towards a new round of expected US tariffs to be place on Chinese goods this Sunday. Get your #gold market update from @HathornSabin here:https://t.co/mKKdwYbtkU $XAUUSD https://t.co/mHtLUEzizl
  • Pairing the Pound's slide to the impressive Aussie Dollar's rally renders the biggest daily $GBPAUD drop since July 29 https://t.co/fYBTsHx9OH
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.38% 🇳🇿NZD: 0.09% 🇨🇦CAD: -0.02% 🇨🇭CHF: -0.20% 🇯🇵JPY: -0.52% 🇬🇧GBP: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9cdL4gGW93
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: 0.78% Wall Street: 0.71% Germany 30: 0.66% France 40: 0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vgpzLly7LV
  • RT @BIS_org: The #euro’s share in terms of #OTCderivatives gross market value rose to 44% in 2019, above the #USdollar share of 24% #Trienn…
USD/CAD Piercing Line Pattern Fails To Stir The Bulls

USD/CAD Piercing Line Pattern Fails To Stir The Bulls

2014-07-04 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/CAD Technical Strategy: Shorts Preferred
  • Piercing Line pattern fails to stir the bulls
  • 1.0700 continues to hold as key resistance

USD/CADfailed to crack key resistance at 1.0700 which suggests limited follow-through to the Piercing Line pattern on the daily. With the bears seemingly retaining control of prices the 1.0560 mark appears attainable.

USD/CAD: Piercing Line Fails To Stir The Bulls

USD/CAD Piercing Line Pattern Fails To Stir The Bulls

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

An examination of the four hour chart reveals a Harami pattern which suggests the potential for an intraday bounce. However, given the significance of the 1.0700 handle and the context afforded by the daily, the extent of any gains may prove limited.

USD/CAD: Harami May Yield Short-Lived Recovery

USD/CAD Piercing Line Pattern Fails To Stir The Bulls

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

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

Related Articles

USD/CAD Candlestick Analysis: Waiting for Long Trade Setup
USD/CAD Candlestick Analysis: Waiting for Long Trade Setup
2015-04-28 05:49:00
USD/CAD Candlestick Analysis: Support Now Below 1.21
USD/CAD Candlestick Analysis: Support Now Below 1.21
2015-04-21 03:33:00
USD/CAD Candlestick Analysis: Top Confirmation Pending
USD/CAD Candlestick Analysis: Top Confirmation Pending
2015-03-02 09:11:00
USD/CAD Candlestick Analysis: Pullback to Yield Long Trade
USD/CAD Candlestick Analysis: Pullback to Yield Long Trade
2015-02-23 05:23:00
Advertisement

Rates

USD/CAD
Bearish
News & Analysis at your fingertips.