USDCAD carved a key reversal/doji today after cutting through the lower parallel of the bullish fork from the December low. Recall that the median line was precise resistance so expectations are that the lower parallel provides support. So far, so good. Near term upside levels of interest are the month open at 1.2789 and daily reversal resistance (1/28 close) at 1.2829 but upside potential is significant as per the bullish fork. Visit scandinavianmarkets.com/news/ for more.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: www.krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: www.krilogy.com/