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DOLLAR-CANADA: TECHS: Bullish Engulfing Candle
*RES 4: 1.3240 High Oct 15
*RES 3: 1.3212 High Oct 17
*RES 2: 1.3146 High Oct 18
*RES 1: 1.3109 High Oct 23
*PRICE: 1.3093 @ 06:12 GMT Oct 30
*SUP 1: 1.3042 Low Oct 29 and initial key support
*SUP 2: 1.3016 Low Jul 19 and major support
*SUP 3: 1.2991 76.4% retracement Oct 2018 - Jan 2019 Rally
*SUP 4: 1.2970 Low Oct 24, 2018
USDCAD ended the day firmer yesterday bouncing of its trend low of 1.3042. This
is potentially a significant short-term reversal given that the rebound was just
ahead of the primary support at 1.3016, Jul 19 low. Furthermore, in candle terms
yesterday's price pattern is a bullish engulfing reversal. Key today and, for
the remainder of the week will be whether the pair is able to hold above 1.3042
and more importantly move above the next resistance at 1.3109.