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USD/CAD Harami Emerges Near Support

Published 06/25/2014, 07:38 AM
Updated 07/09/2023, 06:31 AM
USD/CAD
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Talking Points

  • USD/CAD Technical Strategy: Sidelines Preferred
  • Harami hints at a recovery near 1.0700
  • Dojis in intraday trade suggest fading upside momentum

The USD/CAD has posted a Harami pattern on the daily near 1.0700, which may afford the pair a slight recovery. However, with former support-turned-resistance hanging nearby at 1.0810 the extent of a bounce may prove limited.

USD/CAD: Harami Pattern Emerges Near Support

USD/CAD Daily Chart

An examination of the four hour chart reveals a Morning Star pattern, which set the stage for an intraday push higher for the USD/CAD. However, with several Dojis already appearing, upside momentum appears to be fading for the pair.

USD/CAD: Dojis Suggest Fading Momentum

USD/CAD Daily Chart

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