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USD/CAD Daily Outlook

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Re: USD/CAD Daily Outlook

Post by olixlite on Mon Jul 28, 2014 11:50 pm

Yes it is, and more could happen the way am seeing things. In fact in today's trending news the US Dollar turned higher against its Canadian namesake as expected after prices completed a bullish Piercing Line candlestick pattern. A daily close above resistance in the 1.0875, the 38.2% Fibonacci retracement, exposes the 50% level at 1.0952. Alternatively, a reversal beneath the 23.6% Fib at 1.0780 opens the door for a test of falling trend line resistance-turned-support at 1.0741.

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