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Forex: USD/CAD Technical Analysis – Aggressive Rally Continues

Forex: USD/CAD Technical Analysis – Aggressive Rally Continues

2013-12-03 09:04:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke resistance at 1.0609 (76.4% Fib exp.) exposes 1.0669 (100% Fibexp.)
  • A further push above that targets 1.0729 (123% Fib exp.)
  • Turning back below 1.0609 exposes the 1.0570-71 area (double top, 61.8% Fib exp.)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Aggressive Rally Continues

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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