Forex Analysis: USD/CAD Classic Technical Report 12.24.2012
Prices are reversing higher after completing a bullish Piercing Line candlestick pattern. Buyers broke resistance in the 0.9919-24 area, exposing the 38.2%Fibonacci expansionat 0.9986. Alternatively, a reversal back below 0.9919 targets the 14.6% level at 9886.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
Free Annual Reports
