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Forex: USD/CAD Technical Analysis – Candle Setup Favors Gains

Forex: USD/CAD Technical Analysis – Candle Setup Favors Gains

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A bullish Three Inside Up candle pattern has marked the start of a cautious recovery
  • Near-term resistance is at 1.0329 (38.2% Fib); a break of that exposes 1.0374 (50% Fib)
  • Reversing below support at 1.0273 (23.6% Fib) targets the trend line (1.0235) anew

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-cad_1_body_Picture_7.png, Forex: USD/CAD Technical Analysis – Candle Setup Favors Gains

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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