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Forex: USD/CAD Technical Analysis – Loonie Hits 4-Year Low

Forex: USD/CAD Technical Analysis – Loonie Hits 4-Year Low

2014-01-09 05:26:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke higher as expected, completing a Triangle chart formation
  • Moving above 1.0865 (50% Fib exp.) exposes 1.0930 (61.8% Fib exp.)
  • Below 1.0799 (38.2% Fib exp.) eyes the 1.0706-18 area (Dec 4 high, 23.6% Fib exp.)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Loonie Hits 4-Year Low

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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