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USD/CAD Piercing Line Pattern Falls Flat As Intraday Whipsaws Endure

Published 11/26/2014, 03:20 AM

Talking Points

  • Strategy: Flat
  • Piercing Line Pattern Left Lacking Confirmation
  • H4 Chart Leaves Clearer Candlestick Cues Desired

USD/CAD’s most recent Piercing Line pattern has failed to find confirmation from a successive up-day. This is unsurprising given the pair’s tendency towards violent intraday whipsaws. This further suggests caution is required when looking to adopt fresh positioning.

USD/CAD: Piercing Line Pattern Fails To Find Confirmation

USD/CAD

The four hour chart appears lacking of key reversal candlestick patterns. This leaves a more constructive setup desired to offer a clearer technical bias.

USD/CAD: Candlestick Reversal Patterns Lacking In Intraday Trade

USD/CAD

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