usd-cad

The USDCAD rally from 1.0200 is best counted as 3 waves so the decline from 1.0875 could be a 4th wave correction. The pair has found support just below the area of former 4th waves, which is common. Horizontal lines mark additional areas that could be support.

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.  Send requests to receive his reports via email to jsaettele@dailyfx.com.
 

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