The Forex Pattern, Price & Time Report – USD CAD Mid-Session

The USD CAD turned the Main Trend to up on the Daily Chart and is now in a position to challenge an important retracement level.

The USD CAD Main Trend is up on the Hourly Chart at the Mid-Session.

Earlier in the day, the Main Trend turned up on the Daily Chart on a trade through 1.1290.

Based on the current intra-day pattern, expectations are for this market to remain in an uptrend unless 1.1156 is violated.

Now that this pair has crossed a 50% level at 1.1298, look for the rally to continue to the .618 retracement level at 1.1419.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More