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
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
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • RT @onlyyoontv: #China surprises by cutting short term funding rate for 1st time since 2015. It’s only 5 basis points (reverse repo rate fr…
  • LIVE NOW: Join Technical Strategist @MBForex as he talks about scalping techniques you could implement in your trading. Register here: https://www.dailyfx.com/webinars/176946155?CHID=9&QPID=917720
  • $EURUSD - constructive structure https://www.dailyfx.com/forex/analyst_picks/todays_picks/jeremy_wagner/2019/11/18/near-term-outlook-115.html https://t.co/OkI6llcoPy
  • Join @JWagnerFXTrader 's #webinar at 9:30 AM ET/2:30 PM GMT at the US market opening bell. Register here: https://t.co/9pXwJzGj54 https://t.co/gpbA15KUcK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.65%, while traders in France 40 are at opposite extremes with 82.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/eOIjU8WYXG
  • RT @onlyyoontv: Mood in Beijing about #trade deal is pessimistic, government source tells me. #China troubled after Trump said no tariff ro…
  • Weekly Strategy Webinar starting in 10mins on DailyFX! https://t.co/UxDhRBDxB0
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.45% 🇪🇺EUR: 0.07% 🇨🇦CAD: 0.02% 🇨🇭CHF: -0.12% 🇦🇺AUD: -0.17% 🇯🇵JPY: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3mAXw7qKpQ
  • LIVE IN 30 MIN: Join Technical Strategist @MBForex as he talks about scalping techniques you could implement in your trading. Register here: https://www.dailyfx.com/webinars/176946155?CHID=9&QPID=917720
  • The inverted hammer candlestick pattern is commonly observed in the #forex market and provides important insight into market. How can you apply it to your trading strategies? Find out here: https://t.co/geMAmTc4ly https://t.co/Iis9z5ggtW
USD/CAD Classical Technical Report 05.11

USD/CAD Classical Technical Report 05.11

2011-05-11 06:21:00
Joel Kruger, Technical Strategist
Share:
USDCAD_Classical_body_cad2.png, USD/CAD Classical Technical Report 05.11

USD/CAD: The market has finally managed to mount a nice recovery since basing out by fresh multi-month lows in the 0.9400’s and could be in the process of attempting to establish a more meaningful base. From here, look for a daily close back above 0.9700 to confirm outlook and accelerate gains towards 0.9900, while any intraday setbacks are expected to be well supported above 0.9550 on a daily close basis. The market is showing the potential for a formation of an inverse h&s pattern, but needs to hold above 0.9450 to have a chance of playing out.

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 jskruger@dailyfx.com and you will be added to the "distribution" list.

If you wish to discuss 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.