USDCAD Classic Technical Report 07.23.2012

By Ilya Spivak | DailyFX – Mon, Jul 23, 2012 10:54 AM SGT

Prices put in a Bullish Engulfing candlestick pattern above support at 1.0051, a formerly broken multi-month range top reinforced by the bottom of a falling channel set from early June. The setup hints an upswing is ahead. Initial trend line resistance now stands at 1.0177, with a break above that exposing the channel top at 1.0260. Support is in the 1.0051-1.0101 area.

USDCAD_Classic_Technical_Report_07.23.2012_body_Picture_5.png, USDCAD Classic Technical Report 07.23.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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Market Data

  • Currencies
    NamePriceChange% Chg
    1.26770.00+0.06%
    USDSGD=X
    1.62940.00+0.06%
    EURSGD=X
    1.90700.00+0.05%
    GBPSGD=X
    81.38100.01+0.01%
    SGDJPY=X
    6.1222-0.00-0.04%
    SGDHKD=X
    2.3843-0.01-0.48%
    SGDMYR=X
    7,707.2451-43.25-0.56%
    SGDIDR=X
    4.8418-0.03-0.65%
    SGDCNY=X
    1.22890.00+0.07%
    AUDSGD=X
    More Currencies »
  • Commodities
    NamePriceChange% Chg
    1,368.401.00+0.07%
    GCM13.CMX
    22.24-0.23-1.03%
    SIN13.CMX
    101.301.08+1.07%
    ^XAU
    3.37-0.02-0.46%
    HGN13.CMX
    94.65-1.53-1.59%
    CLN13.NYM
    More Commodities »
  • Bonds
    TreasuryYield (%)Yield Change
    0.890.06
    ^FVX
    2.030.08
    ^TNX
    3.210.06
    ^TYX
    More Bonds »

MARKET MOVERS

  • Most Actives
    NamePriceChange% Chg
    0.1150.01+8.49%
    5NG.SI
    0.1970.00+0.51%
    I26.SI
    0.1120.00+1.82%
    5RJ.SI
    0.700.02+3.70%
    Y92.SI
    0.4350.02+4.82%
    A50.SI
    More Most Actives »
  • % Gainers
    NamePriceChange% Chg
    0.350.13+59.09%
    502.SI
    0.160.03+22.14%
    5PF.SI
    0.2150.03+13.76%
    D6U.SI
    0.1450.01+10.69%
    B2X.SI
    0.9250.09+10.12%
    I07.SI
    More % Gainers »
  • % Losers
    NamePriceChange% Chg
    0.134-0.02-11.84%
    N6H.SI
    0.135-0.01-9.40%
    O57.SI
    3.67-0.30-7.56%
    GZ9.SI
    0.10-0.01-7.41%
    D79.SI
    0.126-0.01-7.35%
    E25.SI
    More % Losers »