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Forex: USD/CAD Technical Analysis – Candles Hint at Pullback

Forex: USD/CAD Technical Analysis – Candles Hint at Pullback

2014-01-14 05:13:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices moved higher as expected, completing a Triangle chart formation
  • A Dark Cloud Cover candle warns of a turn lower; support is at 1.0834 (76.4% Fib exp.)
  • Breaking lower eyes 1.0787 (61.8% Fib); resistance is at 1.0910 (100% Fib)

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dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Candles Hint at Pullback

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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