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Intraday commentary on patterns

USDCAD Three Outside Up Hourly Chart

Mon, Jul 23 2012, 13:30 GMT
by Mark De La Paz | FX Instructor

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Resistance: well above forecasted values

Support: 1.0143 minor/1.0124 minor/1.0101 moderate

USDCAD has a bullish trend though prices are looking overextended. With a high level bullish candlestick pattern, Three Outside Up continue to hold current longs while aggressive buys may also be taken by neutral traders with stops just under the pattern low or 1.0143. Look for the rally in the market to continue further.

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

Published On Mon, Jul 23 2012, 13:32 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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