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Intraday commentary on patterns

USDCAD Three Outside Up Hourly Chart

Fri, Jul 13 2012, 13:06 GMT
by Mark De La Paz | FX Instructor

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Resistance: 1.0205 strong/1.0234 moderate/1.0278 minor

Support: 1.0162 moderate/1.0133 minor/1.0089 minor

We have a Three Outside Up in USDCAD Hourly charts suggesting a possible bounce in prices. The immediate support at 1.0162 is rated as moderate. With a high credibility bullish reversal pattern consider buying from just above 1.0162 the immediate target will be the daily pivot point at 1.0205, break of which suggests a further rally to 1.0234. Stops ideally should be just under 1.0162.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices

Published On Fri, Jul 13 2012, 13:07 GMT Previous entries

Mark De La Paz

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Mark's interest in financial markets has been an ongoing affair, starting from college, where he dabbled in the local equity markets with his college fund. Finishing his BA in Public Administration, Mark remained passionate about trading, and started out working in the niche brokerage business among bank traders.

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Intraday commentary on patterns

USDCAD Three Outside Up Hourly Chart

Daily Live Trading Room

Mark De La Paz

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Legal disclaimer and risk disclosure

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