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Forex: USD/CAD Technical Analysis – A Pullback Coming Ahead?

Forex: USD/CAD Technical Analysis – A Pullback Coming Ahead?

2014-01-16 06:00:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices moved higher as expected, completing a Triangle chart formation
  • A Shooting Star candle hints a pullback may be ahead; support is at 1.0910 (100% Fib)
  • Breaking lower exposes 1.0834 (76.4% Fib); resistance is at 1.0986 (123.6% Fib)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – A Pullback Coming 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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