USD/CAD Classic Technical Report 07.05.2012

By Ilya Spivak | DailyFX – Thu, Jul 5, 2012 10:56 AM SGT

Prices put in a Bullish Engulfing candlestick pattern at support marked by the 50% Fibonacci retracement (1.0122), hinting an upswing is ahead. Initial resistance lines up at 1.0158, with a break above that targeting the 38.2% level at 1.0199. Alternatively, renewed selling through support exposes the 1.0046-62 area.

USDCAD_Classic_Technical_Report_07.05.2012_body_Picture_5.png, USD/CAD Classic Technical Report 07.05.2012

4hr 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

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Market Data

  • Currencies
    NamePriceChange% Chg
    1.2562-0.01-0.45%
    USDSGD=X
    1.6823-0.01-0.47%
    EURSGD=X
    1.9663-0.01-0.37%
    GBPSGD=X
    75.67790.09+0.12%
    SGDJPY=X
    6.17440.03+0.42%
    SGDHKD=X
    2.50880.01+0.34%
    SGDMYR=X
    7,885.018134.95+0.45%
    SGDIDR=X
    4.88080.02+0.46%
    SGDCNY=X
    1.1945-0.00-0.20%
    AUDSGD=X
    More Currencies »
  • Commodities
    NamePriceChange% Chg
    1,372.806.10+0.45%
    GCN13.CMX
    21.61-0.07-0.30%
    SIM13.CMX
    100.840.53+0.52%
    ^XAU
    3.13-0.03-0.81%
    HGM13.CMX
    98.540.10+0.10%
    CLN13.NYM
    More Commodities »
  • Bonds
    TreasuryYield (%)Yield Change
    1.060.01
    ^FVX
    2.180.00
    ^TNX
    3.32-0.02
    ^TYX
    More Bonds »

MARKET MOVERS

  • Most Actives
    NamePriceChange% Chg
    0.151-0.00-0.66%
    I26.SI
    0.1230.00+2.50%
    A15.SI
    0.1570.00+1.29%
    5GC.SI
    0.5850.02+4.46%
    GJ8.SI
    3.69-0.08-2.12%
    Z74.SI
    More Most Actives »
  • % Gainers
    NamePriceChange% Chg
    0.170.02+13.33%
    CL7.SI
    0.160.02+10.34%
    595.SI
    0.150.01+10.29%
    D08.SI
    0.2350.02+9.30%
    C3T.SI
    0.120.01+9.09%
    V69.SI
    More % Gainers »
  • % Losers
    NamePriceChange% Chg
    0.194-0.03-11.82%
    5RA.SI
    0.106-0.01-10.17%
    5FF.SI
    1.67-0.11-6.18%
    GZ9.SI
    0.10-0.00-4.76%
    C06.SI
    0.30-0.01-4.76%
    S85.SI
    More % Losers »