Forex: USD/CAD Technical Analysis – Double Top Set Below 1.06
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices topped as expected, producing a Double Top at the July closing high (1.0570)
- Near-term support is in the 1.0343-57 area (61.8% Fib exp., rising trend line)
- Break lower exposes 10289 (76.4% Fib); near-term resistance at 1.0385 (50% 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.