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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • Libya's NOC has declared a force majeure on Mellitah crude loading, according to Reuters
  • LIVE IN 30 MIN: Join Senior Currency Strategist @CVecchioFX as he reviews key event risk in the week ahead and help strategize how to approach FX markets. Register here: https://www.dailyfx.com/webinars/390818203?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.90%, while traders in US 500 are at opposite extremes with 77.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BZpmb8E27U
  • LIVE NOW: Join Analyst @nickcawley1 as he discusses the outlook for UK financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/614330707?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/12:30 AM GMT to prepare for major event risk in the week ahead. Register here: https://t.co/QscMCDP1ud https://t.co/KJpPdsyeGn
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 0.22% Gold: 0.22% Oil - US Crude: -0.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/64XxgDkWYe
  • Fear the steepeners https://t.co/fEfBdKDfYR
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.29% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.11% 🇨🇦CAD: -0.05% 🇳🇿NZD: -0.18% 🇦🇺AUD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/s12V6FC6jq
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: -0.02% Wall Street: -0.02% Germany 30: -0.06% France 40: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/G9ieYqoCfz
  • LIVE IN 30 MIN: Join Analyst @nickcawley1 as he discusses the outlook for UK financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/614330707?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
US Dollar / Canadian Dollar 03-05

US Dollar / Canadian Dollar 03-05

2010-03-05 15:36:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

usdcad0305 

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.  
 
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.
 

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

DISCLOSURES

News & Analysis at your fingertips.