News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • #Copper extending gains to highest since 2014 in London -BBG
  • Hang Seng Index (HSI) has likely broken a key resistance level of 26,840, propelled by financial stocks: - HSBC (+5.28%) - Standard Chartered (+3.59%) - Ping An Insurance (+2.45%) https://t.co/XBv5In1NJ5
  • Japanese PM Suga says Japan doing everything it can to protect jobs - BBG
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/wMZn4SDCp8
  • Precious Metals Technical Analysis: #Gold and #Silver Rebound at Hand? - https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2020/11/25/Precious-Metals-Technical-Analysis-Gold-and-Silver-Rebound-at-Hand--.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GLD $SLVR https://t.co/wHwsO23TLu
  • Currency traders may eye US PCE inflation data today for clues about continuous rising price levels and how it may impact the Fed’s monetary decisions. Find out more on the DailyFX economic calendar. https://www.dailyfx.com/economic-calendar#today https://t.co/jlmSkHmhE0
  • Japanese PM Suga: - Employment impact from virus being watched closely - Will take continuous action on labor market if needed $USDJPY
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:https://t.co/urDN2b5Nwd https://t.co/BZg9Si833v
  • I am generally of the mind that the markets have run far beyond fundamentals and value, which doesn't mean it has to stop imminently. Another leg higher could come on behalf of a US stimulus boost which can supplement th... https://t.co/xu2uA2ylXU https://t.co/Ng8hdHjVJk
  • Japan's Nikkei 225 Index nearly 2% higher as Wednesday's trading session opens https://t.co/uoS9pGIvGa
USD/CAD One More Low May Precede a Rally

USD/CAD One More Low May Precede a Rally

2013-05-06 23:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

60 Minute Bars

eliottWaves_uscad_body_usdcad.png, USD/CAD One More Low May Precede a Rally

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: One more low would make the decline from 1.0293 in 5 waves. Regardless of the larger USDCAD trend, the implications are for a bounce back to at least 1.0130. Estimated support is 1.0040 and at least a correction of the decline from 1.0293 is favored as long as price is above 1.0000 on a daily closing basis.

FOREXTrading Strategy: Order to buy 1.0045, stop is daily close below 1.0000, target 1.0170

LEVELS: .9932 1.0001 1.0050 1.0130 1.0206 1.0263

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES