usd-cad

The USDCAD rally from 1.0200 is best counted as 3 waves unless one allows for a truncated 5th wave. The USDCAD turned up from just below the 61.8% of the advance from 1.0200. Above 1.0600 would be bullish.

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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