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

Mid Session Analysis

The USD CAD istrading unchanged to lower at the mid-session. This currency pair ishaving trouble penetrating a 50% level at 1.1654

Mid Session Analysis

The USD CAD is trading unchanged to lower at the mid-session. This currency pair is having trouble penetrating a 50% level at 1.1654. This level is based on the main range of 1.2507 to 1.0783. This pair has tried four times this week to break through this level having produced a high at 1.1654. Regaining this level could trigger an even further rally to 1.1848.

If this market forms a short-term top at 1.1654 then look for a correction back to 1.1218 to 1.1116. This retracement zone is based on the range of 1.0783 to 1.1654.

Once again the potential down move will only be a correction. Based on the current swing chart set up, the main trend will not change to down until 1.0941 is violated.

Mid Session Chart

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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

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