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Trade Update

Trade Update

2010-03-05 15:37:00
Jamie Saettele, CMT, Sr. Technical Strategist
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The USDCAD has dropped below 10368 and to its lowest level since mid January. The potential for a bottom and reversal remain, especially since the decline from 10577 is now 161.8 of the decline from 10684-10491 and the decline from 10684 is 100 of the decline from 10784. Even if the decline from 10577 is a 3rd wave (rather than a c wave), a 4th wave correction would probably reach at least 10368. This is a 'punt' trade.

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