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  • Opinions - Not Facts

    This blog consists of contributions from FXCM staff, executives and people that have a relationship with FXCM. In spirit of a blog, the posts are conversational and opinionated. However, they are not official FXCM policy and not double-checked for facts. The authors are providing information that they believe to be true or opinions they hold. To verify information or check official FXCM policy, please contact FXCM through the firm's official website, www.fxcm.com.

    • « DailyFX FX Radio: A Calm Overtakes The Market As NFP Event Risk Approaches | Home | DailyFX Forex Radio - EUR/USD May Face Additional Declines, ECB Provides Major Event Risk This Week »

    USDCAD: Headed for More Losses

    By DailyFX Updates | January 4, 2008

    Courtesy of Jamie Saettele:

    The USDCAD remains trapped below a confluence of trendlines on the daily chart.  The lines were tested once in early December and price is pressing against the trendline drawn off of the March and August highs once again right now.  A breakout would lead to a test of the August high at 1.0866.  If resistance holds, then the USDCAD is likely headed back to .9500.  See what scenario we see as most probable.

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    Topics: DailyFX.com Updates |

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