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Forex: USD/CAD Technical Analysis – Another Push Higher Ahead?

Forex: USD/CAD Technical Analysis – Another Push Higher Ahead?

2013-12-27 05:34:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • A bullish Three Inside Up candlestick pattern hints an upswing may be ahead
  • Breaking resistance at 10706-26 (Dec 4 high, 38.2% Fib) exposes 1.0778 (50% Fib)
  • Turning below 1.0619 (channel bottom) eyes 1.0570 (formerly broken double top)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Another Push Higher Ahead?

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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