USD/CAD Technical Analysis
(US Dollar / Canadian Dollar)

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Updated the:
07/21/2014
USD/CAD : The correction is launched !

Sentiment :
sentiment sur la parité AUD/USD
1.0720
sentiment sur la parité AUD/USD
1.0694
sentiment sur la parité AUD/USD

--- Follow up analysis ---
Last week, following the output of its medium term downtrend channel (black lines), the pair USD/CAD reached on a volatility movement the fibonacci retracement 50% of the last bearish movement to 1.0790. Then, the price has stabilized and is now moving in a short term flag (blue segments - continuation pattern). However, another pattern appears (head and shoulders - reversal pattern) formed on the short term (black ellipses). The lower limit of the flag (currently being tested) is tested this morning. The indecision is strong on the USD/CAD.

We advise to trade only long positions (buy) as far as 1.0720 is support. An output from the top of the flag will announce the resumption of the movement of correction. The breakout of 1.0790 (level 50%) will give a new buy signal.

In case of return below 1.0720, we will advise you to remain neutral between this level and 1.0694 (level of the upper limit of the former medium term downtrend channel).

ps : Traders with a more aggressive strategy can trade the pair according to 1.0720 (long above; Short below).
Full analysis

Analysis published by Bruno Dupray, the 07/21/2014 at 08h55 GMT+2


Chart of the pair USD/CAD - Timeframe 1H
USD/CAD Technical Analysis

Chart of the pair USD/CAD - Timeframe 4H
USD/CAD Technical Analysis

Live USD/CAD Chart - Timeframe : 1H*
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