USD/CAD Hammer Forming Post Test of Critical Support

| 19 februari, 2014 | 0 kommentarer

To receive David’sanalysis directly via email, please SIGN UP HERE

Talking Points

  • USD/CAD Technical Strategy: Hammer Confirmation to Offer Bullish Bias
  • Downtrend continues, suggesting caution needed when trading an upside reversal
  • Noteworthy buying support at 1.0900 may limit further declines for the Loonie

USD/CAD has shrugged off previous signs of a potential reversal as the pair continues to decline further. This suggests caution is needed when looking at trading the most recent Hammer candlestick pattern on the daily. Confirmation is needed from a successive up-day to suggest the formation is a more meaningful indication of a turnaround for the Loonie. Important support for the pair lies close by at the psychologically significant 1.0900 handle.

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

Forex_Strategy_USDCAD_Hammer_Forming_Post_Test_of_Critical_Support_body_Picture_1.png, USD/CAD Hammer Forming Post Test of Critical Support

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by David de Ferranti, Market Analyst, FXCM

Contact and follow David on Twitter: @Davidde


For live market updates, visit the Real Time News Feed

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras.