Forex: USD/CAD Technical Analysis – Standstill Below July Top
To receive Ilya's analysis directly via email, please SIGN UP HERE
USD/CAD Technical Analysis
- Shooting Star candlestick below resistance at 1.0542 (50% Fib expansion) hints at topping
- Break below initial support at 1.0472 (38.2% Fib) exposes the 23.6% Fib at 1.0385 next
- Daily close above resistance opens the door for a challenge of 1.0613 (61.8% Fib)
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.