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
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
Mixed
Gold
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
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • Black Friday is still a subject for #stock market scrutiny. Which retailers look set to benefit? What can we learn from the price action of past years? Find out: https://t.co/BBKZzw4tGa https://t.co/PXcvnzh5nw
  • RT @onlyyoontv: #China doesn’t want Dec tariffs but calculation Trump might not 2 due to Xmas, poss harm to US econ. US suppliers here say…
  • Interesting addition to the RBA minutes overnight "further reduction in interest rates could have a different effect on confidence than in the past, when interest rates were at higher levels" - $AUD rates seemingly not that far from the lower bound (0.5%)
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr https://t.co/72dN9k3mdz
  • Retail carnage this AM after disappointing earnings pre-market $ES_F $SPX
  • Dax dancing around this trend channel https://t.co/FIL16lwltr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.72%, while traders in France 40 are at opposite extremes with 85.15%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/8OpJesS3E7
  • RT @NickTimiraos: Trump elaborates on his White House meeting with Powell. One question is whether private pressure has any effect when the…
  • LIVE NOW: Join Analyst and Editor @MartinSEssex as he discusses the most important events and themes that have driven market sentiment and will drive it in the days ahead. Register here: https://www.dailyfx.com/webinars/181540619?CHID=9&QPID=917720
  • $GBPUSD option market pricing for General election (expiring Dec 13th) - Volatility at +48% with a break-even of 330pips https://t.co/jiLzZolZ0p
Forex Analysis: USDCAD Classic Technical Report 11.01.2012

Forex Analysis: USDCAD Classic Technical Report 11.01.2012

2012-11-01 08:08:00
Ilya Spivak, Sr. Currency Strategist
Share:

Prices continue to edge higher after taking out resistance at 0.9943, the 38.2% Fibonacci retracement, with buyers clearing the parity barrier to expose the 50% level at 1.0039.The 0.9943 level has been recast as support, with a drop back below that targeting the 0.9806-39 area. Overall positioning continues to favor a move to a measured upside target at 1.0140 after the pair completed an inverse Head and Shoulders bottom on October 19.

Forex_Analysis_USDCAD_Classic_Technical_Report_11.01.2012_body_Picture_5.png, Forex Analysis: USDCAD Classic Technical Report 11.01.2012

Daily 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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

DISCLOSURES

News & Analysis at your fingertips.