USD CAD Pops into Retracement Zone

The USD CAD is accelerating to the upside as a sharp break in theequity and commodity markets has triggered a flight to the Dollar.

The USD CAD is accelerating to the upside as a sharp break in the equity and commodity markets has triggered a flight to the Dollar.

Technically, this pair popped through a downtrending Gann angle at 1.0591 and a major 50% retracement level at 1.0598. 

The current upside momentum indicates this currency pair has a shot at reaching the .618 retracement price at 1.6907 today or tomorrow.

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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