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
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
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
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
Gold
Bearish
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • The $CAD rose on a hopeful tone from the Bank of Canada, but the largest risk to the central bank’s outlook remains unresolved. NZD/CAD has rallied. Will AUD/CAD follow as CAD/JPY sinks? Get your market update from @ddubrovskyFX here: https://t.co/AairskIHA5 https://t.co/z1Rs8JRVZA
  • #GBP, #BRL and #ZAR are expected to be the most-active major currencies against #USD with one-wekk implied volatility at 18.50, 10.70 and 10.48 respectively -BBG
  • RT @LiveSquawk: RTRS Poll: Washington And Beijing To Sign Interim Trade Deal Within Next 3 Months, Say Majority Of Economists
  • Indeed, you could see rising doubts of a US-China #tradedeal reflected at today's US T-Bill auction for the 4-week security ahead of the December 15 tariff deadline - https://t.co/L6YEhauvzw https://t.co/hTykbYCuVB
  • Is that Hong Kong? Iran? Chile, perhaps? Nope, that'd be Paris, France... https://t.co/JTD0TL5RFI
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/tgq1jyblnN
  • 💵 US Dollar Set for Volatility with NFP Data & Fed Meeting on Deck (via @DailyFX) ➡️ Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/05/us-dollar-volatility-due-to-rise-with-jobs-data-fed-on-deck.html $USD $DXY #Forex #Trading #FOMC #Jobs https://t.co/cdeBn1fvvt
  • The US Dollar eyes its worst week since October as the Euro and British Pound rose. Treasury bills saw their lowest yield since 2018, likely reflecting US-China trade deal skepticism - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/12/06/US-Dollar-Drop-Eyes-Support-as-the-Euro-and-British-Pound-Rise.html?CHID=9&QPID=917702 https://t.co/Glqk2x99ml
  • Japanese Yen edging higher early into Asia's Friday trading session #USDJpy #AUDJPy #NZDJPY #EURJPY https://t.co/kiQa2fji2X
  • Ahead of the #UKelection next week, take the time to read up on how politics impacts markets - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/07/04/How-to-Trade-the-Impact-of-Politics-on-Global-Financial-Markets.html
USD/CAD Setback May Prove Short-Lived With Bearish Candles Missing

USD/CAD Setback May Prove Short-Lived With Bearish Candles Missing

2014-09-30 07:45:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • USD/CAD Technical Strategy: Longs Preferred
  • Absence of Reversal Signals May Open Further Gains
  • Sights Turn To 2014 High Following Breach Of 1.11

USD/CAD’s ascent has encountered some turbulence which may prove transitory with a void of bearish reversal signals in its wake. This keeps the 2014 high near 1.1270 in focus. A slide back under the 1.1100 barrier would be required to warn of a correction for the pair.

USD/CAD: Loses Steam After Leaping Over 1.1100 Hurdle

USD/CAD Setback May Prove Short-Lived With Bearish Candles Missing

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

The four hour chart reveals some ‘messy’ intraday price action within the 1.1135 and 1.1175 trading band. While a Hanging Man had warned of a potential correction, it failed to find significant follow-through. This leaves a break of the recent range desired in order to offer a clearer directional bias.

USD/CAD: Awaiting Break From Intraday Congestion

USD/CAD Setback May Prove Short-Lived With Bearish Candles Missing

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.