USDCAD - Bullish Engulfing signals further recovery

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro regained traction, following yesterday’s strong bullish close that sidelined threats of retesting last week’s low at 1.0776. Temporary base was formed at 1.0787, lows of last Friday / yesterday, also 50% of larger 1.0519/1.1058 rally. However, daily Ichimoku cloud base at 1.0857, reinforced by descending daily 20SMA, still acts as resistance, despite being cracked, as sideways-moving daily Tenkan-sen so far capped extended rally at 1.0880. Daily studies hold neutral/bearish

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