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  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.45% 🇪🇺EUR: 0.40% 🇨🇭CHF: 0.30% 🇯🇵JPY: -0.04% 🇳🇿NZD: -0.10% 🇨🇦CAD: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Sm5cszzGpO
  • Copper Price Outlook: Channel Support Holding, Eyes on the Resistance More details in the link: https://www.dailyfx.com/forex/technical/article/special_report/2020/05/29/Copper-Price-Outlook-Channel-Support-Holding-Eyes-on-the-Resistance-MK.html?CHID=9&QPID=917714 https://t.co/b4er2lMAWd
  • Canadian PM Trudeau says that Canada will keep pressing China over Hong Kong - BBG
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -0.56% Wall Street: -0.67% France 40: -1.58% Germany 30: -1.67% FTSE 100: -2.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wDSyL6upx6
  • Heads Up:🇺🇸 Fed Chair Powell Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-29
  • EU global trade forecast for 2020 reduced by EU868B - BBG
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9tTif https://t.co/DGS11IMvcd
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  • 🇺🇸 Michigan 5 Year Inflation Expectations Final Actual: 2.7% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-05-29
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USD/CAD Classic Technical Report 07.05.2012

USD/CAD Classic Technical Report 07.05.2012

2012-07-05 02:56:00
Ilya Spivak, Head Strategist, APAC
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Prices put in a Bullish Engulfing candlestick pattern at support marked by the 50% Fibonacci retracement (1.0122), hinting an upswing is ahead. Initial resistance lines up at 1.0158, with a break above that targeting the 38.2% level at 1.0199. Alternatively, renewed selling through support exposes the 1.0046-62 area.

USDCAD_Classic_Technical_Report_07.05.2012_body_Picture_5.png, USD/CAD Classic Technical Report 07.05.2012

4hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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

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