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
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • Heads Up:🇺🇸 USD Powell Appears Before House Budget Committee due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-11-14
  • China's President Xi: - Moving towards closer relationship with Latin America
  • China's President Xi: - Increase in protectionism creates deficits in government $USDCNH
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: -0.11% Wall Street: -0.11% US 500: -0.15% Germany 30: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6UPif8JxXB
  • Chicago Fed President Evans: - Assessing Libra's impact potential is critical $DXY
  • $EURUSD: A double low at 1.0940 may stem losses before a re-test of 1.0926 and the October 1 multi-month low at 1.0879. Get your $EURUSD market update from @nickcawley1 here:https://t.co/Jz4xTdSRpG https://t.co/RrbUWie0Fg
  • RT @LiveSquawk: Chinese President Xi: Restoring Order And Stopping Violence Is The Most Urgent Task For Hong Kong Right Now – RTRS
  • ECB's Knot: -ECB can act more forcefully with conventional instruments -ECB should be more cautious with unconventional monetary policy $EUR
  • Fed's Clarida: -Fed policy review will likely be complete by mid-2020 -Current policy toolkit 'flexible' -FOMC remains content with current monetary policy stance -3.6% UR may not be below full employment -Sees no evidence of rising wages causing excess inflation $USD $TNX
  • RT @BEA_News: Personal income rose 5.7% in the metropolitan portion of the United States last year and increased 4.8% in the nonmetropolita…
Canadian Dollar Focus on 9720

Canadian Dollar Focus on 9720

2011-05-09 14:48:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar Focus on 9720

Prepared by Jamie Saettele, CMT

The USDCAD rally has stalled at the 50 day MA but focus remains on the pivot high at 9720 with a break above signaling an end to lower highs and strongly suggesting that an important low is in place. Friday’s inside day presents a bullish continuation opportunity. Resistance in the event of continued strength is at 9837 (former support) and 9974 (3/15 high).

Support/Resistance Index (M,W,D) – 3, 6, 1

Latest Video

Monthly Forecast

Weekly Forecast

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market.  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.