Forex: USD/CAD Technical Analysis – Stubbornly Holding at 1.04
To receive Ilya's analysis directly via email, please SIGN UP HERE
- A bearish Evening Star candle pattern hints a turn lower is ahead
- Breaking support at 1.0407 (23.6% Fib exp.) would expose 1.0350 (38.2% Fib)
- Resistance is in the 1.0498-1.0503 area (trend line from June low, Oct 30 high)
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
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE
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.