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.

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
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Breaking news

ECB leaves all rates unchanged in line with expectations

Real Time News
  • 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 $DXY: US Dollar Index spiking higher off a critical support level underpinned by the 97.00 handle. The pivot to the upside was sparked by another optimistic #tradetalk headline with the move erasing half of yesterday's downside driven by the December FOMC meeting https://t.co/kTg62HSeH2
  • IMF Spokesman Rice: - Hopeful for progress being made on US-China talks $USDCNH $SPX
  • $USDJPY support held through the $USD sell-off, price action springs to life on the trade deal tweet https://t.co/ekebDkQqzM
  • China calls Trump's bluff markets still don't care https://t.co/GpolEhbrlN
  • Voting has begun in the #UKElection with the polls due to close at 10pm local time, an exit poll to be published soon after and results expected late Thursday and on Friday. Get your market update from @MartinSEssex here: https://t.co/KQdaF3ySJp #Brexit https://t.co/tb0dwBMIDC
  • $USDJPY jumps following trade headlines https://t.co/05H6Jip2mG
USD/CAD Propelled Beyond 1.1000 On The Back Of A Hammer Candlestick

USD/CAD Propelled Beyond 1.1000 On The Back Of A Hammer Candlestick

2014-09-23 06:20:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/CAD Technical Strategy: Sidelines Preferred
  • Hammer Candlestick Emerges Near The 1.1000 Barrier
  • Recovery Questionable Amid Choppy Price Action

USD/CAD has breached the 1.1000 barrier after a Hammer formation left the pair with a bullish buttress. Yet some skepticism over the potential for a sustained ascent is warranted given its frustratingly choppy price action over recent weeks.

USD/CAD: Hammer Receives Confirmation Near 1.1000 Hurdle

USD/CAD Propelled Beyond 1.1000 On The Back Of A Hammer Candlestick

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

The four hour chart is already offering an early warning of a potential pullback for USD/CAD. A retreat below the 1.1016 floor would confirm an Evening Star candlestick formation and open a return to the 1.0936 mark.

USD/CAD: Evening Star Warns Of Intraday Weakness

USD/CAD Propelled Beyond 1.1000 On The Back Of A Hammer Candlestick

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

News & Analysis at your fingertips.