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USD/CAD Support at 1.0470

By , Sr. Technical Strategist
26 August 2013 22:25 GMT


eliottWaves_usd-cad_body_usdcad.png, USD/CAD Support at 1.0470

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: In light of recent strength, it’s wise to take a gander at the big picture. Well, the big picture is awfully constructive. The CAD is under the radar so a breakout would probably be dismissed, especially after the false break in July. Pay attention to this one.

FOREXTrading Strategy: Support at 1.0470. Bigger picture is constructive above 1.0400 on a daily closing basis.

LEVELS: 1.0369 1.0444 1.0470 1.0548 1.0570 1.0608

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26 August 2013 22:25 GMT