Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

USD/CAD: H4 Candles Suggest A Swing High Has Either Formed Or Forming

Published 04/02/2015, 03:49 AM
Updated 07/09/2023, 06:31 AM



Market Snapshot FX Majors And Crosses

UP NEXT:

Economic Calendar


TECHNICAL ANALYSIS:

USD/CAD

USD/CAD 1 Hour Chart

H4 Candles suggest a swing high has either formed or forming and we have a decent zone of resistance around 1.2630-48 which could favour sell-limit orders (to catch any market-open spikes, for example).

As we are approaching the end of a short trading week and NFP tomorrow I would prefer to keep hold times short than usual and not go for any magnificent home run.

A break above 1.2648 confirms the end of the correction from the 1.278 highs and potential run towards 1.27 but my bias remains bearish taking into account USD price action across the board.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.