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Forex: USD/CAD Technical Analysis – Pullback in the Works?

Forex: USD/CAD Technical Analysis – Pullback in the Works?

2013-12-04 13:01:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • A Shooting Star candle below 1.0669 (100% Fibexp.) hints a pullback may be ahead
  • Below support at 1.0609 (76.4% Fib) exposes the 1.0570-71 area (double top, 61.8% Fib)
  • Reversing above resistance aims for 1.0729 (123% Fib expansion)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Pullback in the Works?

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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