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USDCAD Bides Time Before Break

By , Sr. Technical Strategist
15 March 2012 21:10 GMT

240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Bides Time Before Break

Prepared by Jamie Saettele, CMT

“The USDCAD is consolidating below its 200 day average and the 20 day average has acted as resistance this week. Recent consolidation may be a triangle. If a triangle is unfolding, then a pop into 9960/90 would present a short opportunity against 10050.”

Bottom Line (next 5 days) – sideways / down

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15 March 2012 21:10 GMT