Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

15 March 2012 21:10 GMT