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
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
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
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
More View more
Real Time News
  • New Zealand Dollar Outlook: Cyclical Upturn Ahead for $NZDUSD? - https://www.dailyfx.com/forex/technical/candlesticks/nzd-usd/2020/10/27/New-Zealand-Dollar-Outlook-Cyclical-Upturn-Ahead-for-NZDUSD.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $NZD https://t.co/kHTDGf6lqv
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇳🇿NZD: 0.17% 🇨🇭CHF: 0.13% 🇦🇺AUD: 0.11% 🇯🇵JPY: 0.09% 🇬🇧GBP: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/80LrZaVKVY
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/MWWPCQa00w
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.12% US 500: 0.11% Germany 30: -0.01% France 40: -0.08% FTSE 100: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/XAGdQtsijK
  • WTI crude oil prices fell for a second day to US$ 38.80, marking a two-day decline of 4.6%. The selloff pressure was primarily due to a rapid rise in global coronavirus infections and dwindling hopes for a US relief package before the US election. https://t.co/ZYgNr3B3BH
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDn8ejP https://t.co/fqwM6tbGfe
  • The US has registered 59,691 new coronavirus cases on October 25th, marking a decline for the second day after hitting a record on 23rd. Yet risk assets appear to be vulnerable to further pullback should coronavirus cases continue to climb around the globe. https://t.co/jcXzNDYhoD
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/parnPmQwIj
  • Market Update Broad risk-on tilt seen in APAC trade Risk-sensitive $AUDUSD moving higher alongside #crudeoil prices and #SP500 futures Haven-linked $USD and $JPY sliding lower against their major counterparts
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.83% Oil - US Crude: 0.43% Gold: 0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/T7ZsigkoyK
USD/CAD Journey Higher May Endure With Reversal Candlesticks Lacking

USD/CAD Journey Higher May Endure With Reversal Candlesticks Lacking

2014-09-15 11:49:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/CAD Technical Strategy: Longs Preferred
  • Bullish Engulfing Pattern Emerges Following Push Past 1.1000
  • Breakout Of Critical Barrier Opens Run Towards 1.1270

USD/CAD’s ascent towards its 2014 high may be maintained following the leap over the critical 1.980/1.1000 hurdle. A Bullish Engulfing candlestick formation has been left in its wake. While the pattern is technically classed as ‘reversal signal’ it may also offer an indication of building upside momentum. Alongside signs of an emerging uptrend this opens the door to an ascent on 1.1270. A daily close back below the breakout point would invalidate the signal and negate a bullish bias for the pair.

USD/CAD: Targeting 2014 High Amid Absence Of Bearish Patterns

USD/CAD Journey Higher May Endure With Reversal Candlesticks Lacking

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

The four hour chart paints a similar picture to the daily after a Shooting Star formation failed to find follow-through. This has left a void of key reversal patterns which hints at the prospect of further gains for the pair.

USD/CAD: Traders Look Past Bearish Pattern

USD/CAD Journey Higher May Endure With Reversal Candlesticks Lacking

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

By David de Ferranti, Currency 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