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Forex: USD/CAD Technical Analysis – Turn Lower Hinted Ahead

Forex: USD/CAD Technical Analysis – Turn Lower Hinted Ahead

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices put in a Shooting Star candlestick, hinting a move lower is ahead
  • Below support at 1.1005 (76.4% Fib exp.) exposes 1.0924 (76.4% Fib exp.)
  • Reversing above 1.1136 (100% Fib exp.) targets 1.1267 (123.6% Fib exp.)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Turn Lower Hinted 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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