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US Dollar / Canadian Dollar 07-01

US Dollar / Canadian Dollar 07-01

2010-07-01 14:49:00
Jamie Saettele, CMT, Sr. Technical Strategist
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DT 10-07-01_usdcad

The larger C wave rally in the USDCAD should eventually exceed 10866. Near term weakness could be a small 4th wave (like the AUDUSD decline) but the 2 up legs are equal (3rd wave should be closer to 1.618 x wave 1). In any case, staying above 10315 keeps the uptrend intact.

 

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosses on 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

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