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. See our updated Privacy Policy here.

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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • UK PM Spokesman says the UK is committed to the triple lock on pensions government made a commitment not to increase rate of income tax
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-21
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 86.01%, while traders in France 40 are at opposite extremes with 69.54%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/1KacM0SzUu
  • Please join @CVecchioFX at 7:30 EST/11:30 GMT for a webinar where you can develop a strategy for a major risk event. Register here: https://t.co/D8DAmLpkuS https://t.co/cXy5YF2QOe
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: 1.03% Silver: 0.71% Oil - US Crude: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/c1PEiidgUD
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.47% 🇬🇧GBP: 0.42% 🇦🇺AUD: 0.35% 🇪🇺EUR: 0.28% 🇨🇭CHF: 0.18% 🇯🇵JPY: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/TTQNPmO5N9
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/uXSofbvppi
  • Iranian President Elect Raisi says we want verification for US sanctions removal #OOTT
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.65% Wall Street: 0.56% FTSE 100: 0.46% US 500: 0.45% France 40: 0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rOaykvimoe
  • China asks banks and alipay not to involve in Crypto operations
USD/CAD Suffers A "False Breakout" As A Harami Warns of Weakness

USD/CAD Suffers A "False Breakout" As A Harami Warns of Weakness

David de Ferranti, Currency Analyst

Talking Points

  • USD/CAD Technical Strategy: Sidelines Preferred
  • Harami Confirmation Suggests Declines May Continue
  • “False Breakout” Casts Risks Lower To 1.0854

USD/CAD has been sent reeling following the emergence of a Harami pattern on the daily. The key reversal pattern and daily close below the 1.0980/1.1000 barrier warn of further short-term weakness for the pair. Yet within the context of a longer-term uptrend a pullback to the 1.0854 floor would be seen as a buying opportunity at this stage.

USD/CAD: Harami Delivers Drop Below “Breakout” Point

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

The four hour chart reveals an absence of bullish reversal signals at this stage. This suggests the chances of an intraday recovery may be slim. A continued correction is likely to be met by buying interest at the 1.0936 floor.

USD/CAD: Recovery Hopes Appear Slim Amid Void of Bullish Candlesticks

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