News Column

USD/CAD Intraday Bounce Possible As Harami Pattern In Play

May 13, 2014

David de Ferranti

Talking Points



  • USD/CAD Technical Strategy: Sidelines Preferred
  • Bullish Engulfing awaits confirmation
  • Four hour chart suggests the potential for an intraday bounce





    USD/CAD has reversed course following a break below the 1.0860 mark. The recovery in prices has prompted the emergence of a Bullish Engulfing candlestick pattern which suggests further gains may be possible. However, given past price action suggests the potential emergence of a downtrend, it remains to be seen whether this is a mere corrective bounce within the broader trend.





    USD/CAD: Key Reversal Pattern Emerges As Bulls Return

    USD/CAD Intraday Bounce Possible As Harami Pattern In Play





    A Harami candlestick pattern near 1.0875 combined with clearance of the 1.0900 mark suggests the potential for an intraday bounce towards the next level of resistance at 1.0940.





    USD/CAD: Harami Puts Intraday Bounce On The Cards

    USD/CAD Intraday Bounce Possible As Harami Pattern In Play









    Follow David on Twitter: @Davidde





    Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.










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    Source: DailyFx


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