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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • LIVE IN 30 MIN: Join Senior Currency Strategist @CVecchioFX as he reviews key event risk in the week ahead and help strategize how to approach FX markets. Register here: https://www.dailyfx.com/webinars/390818203?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.90%, while traders in US 500 are at opposite extremes with 77.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BZpmb8E27U
  • LIVE NOW: Join Analyst @nickcawley1 as he discusses the outlook for UK financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/614330707?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/12:30 AM GMT to prepare for major event risk in the week ahead. Register here: https://t.co/QscMCDP1ud https://t.co/KJpPdsyeGn
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 0.22% Gold: 0.22% Oil - US Crude: -0.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/64XxgDkWYe
  • Fear the steepeners https://t.co/fEfBdKDfYR
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.29% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.11% 🇨🇦CAD: -0.05% 🇳🇿NZD: -0.18% 🇦🇺AUD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/s12V6FC6jq
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: -0.02% Wall Street: -0.02% Germany 30: -0.06% France 40: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/G9ieYqoCfz
  • LIVE IN 30 MIN: Join Analyst @nickcawley1 as he discusses the outlook for UK financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/614330707?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • #DidYouKnow a #Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/c51s3IBcEu https://t.co/5KBXSdj8OD
USD/CAD Classical 03.12

USD/CAD Classical 03.12

2010-03-12 06:37:00
Joel Kruger, Technical Strategist
Share:

cad2

USD/CAD: Our overall outlook for the pair remains highly constructive and as such, any dips should be used as formidable buy opportunities. The market currently resides just above some solid multi-week range support by the 1.0200 handle, and we look for the latest dip towards the figure to once again be well supported in favor of some renewed strength over the coming days. While we can not rule out the possibility for a break below 1.0200, any setbacks below this level are however not expected to be sustained on a close basis.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
If you wish to receive Joel's reports in a more timely fashion, e-mail
instructor@dailyfx.com and you will be added to the "distribution" list.

If you wish to discus this topic or any other feel free to visit our Forum page

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.