News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The US Dollar is continuing to strength today. The $DXY has risen above the 90.80 level to its highest point since last Wednesday. $USD https://t.co/OFWBlH3loM
  • quite the reversal in commod currencies over the past two days. $USDCAD from falling wedge support to resistance. this tl held a number of inflections earlier this month, now being tested through https://t.co/O2zqFkYz9Y https://t.co/Rljf0c6JE3
  • $USDCHF rose to trading above the 0.9100 level for the first time since November. $USD $CHF https://t.co/afJSa3Ap5h
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in GBP/JPY are at opposite extremes with 67.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7CenEe3hcL
  • Hey traders! Wrap up your week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/9Sfqv1U0TJ
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -2.02% Gold: -2.70% Silver: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pOc7rwbN4x
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.41% 🇬🇧GBP: -0.45% 🇨🇭CHF: -0.51% 🇨🇦CAD: -0.76% 🇳🇿NZD: -1.57% 🇦🇺AUD: -1.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wtEBvYAAG2
  • A pullback off confluence uptrend support threatens a larger pullback here but keeps the broader trade constructive while within this formation. Get your $btc market update from @MBForex here:https://t.co/ScHuboiZRB https://t.co/gNiGelWKTM
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.49% France 40: 0.47% Germany 30: 0.45% US 500: 0.28% Wall Street: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/4LwfSsKX6u
  • ECB's Visco: - Extreme prudence must be used before exiting support measures - Must wait for a substantial recovery before getting out of easy money conditions #ECB $EUR
USD/CAD Technical Analysis: Pullback Stalls at Support

USD/CAD Technical Analysis: Pullback Stalls at Support

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CAD Technical Strategy: Long at 1.2649
  • Support: 1.2872, 1.2729, 1.2614
  • Resistance: 1.3047, 1.3127, 1.3258

The US Dollar found interim support below the 1.29 figure against its Canadian namesake after correcting downward as expected. A daily close below the 23.6% Fibonacci retracementat 1.2872 exposes the 38.2% level at 1.2729. Alternatively, a move above the 14.6% Fib expansion at 1.3047 opens the door for a challenge of the 23.6% level at 1.3127.

We entered long USDCAD at 1.2649 and have since taken profit on half of the trade. The remainder of the position will remain in play to take advantage of any further on-coming gains. The stop-loss is now at the breakeven level.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

USD/CAD Technical Analysis: Pullback Stalls at Support

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES