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
Bullish
USD/JPY
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
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.48% 🇪🇺EUR: 0.07% 🇨🇦CAD: -0.01% 🇨🇭CHF: -0.06% 🇦🇺AUD: -0.16% 🇯🇵JPY: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BSgv4brAkS
  • Trade conflict is clearly awful for the broad world economy, but some countries are already benefiting from it. More stand to do so. Spotting them early could be profitable. Get your update on the #tradewar from @DavidCottleFX here: https://t.co/og0VAPAqwm https://t.co/eYpIISpKPe
  • Bundesbank says the slowdown of the German economy will probably continue in Q4, adding that the slowdown is unlikely to intensify markedly $EUR
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.15% US 500: 0.10% Germany 30: -0.14% France 40: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Px262wOzl2
  • 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?CHID=9&QPID=917720
  • CFTC update - $CAD long liquidation begins with net longs cut for the first time in a month (Poloz speaking later this week) - $JPY selling persists - $NZD net shorts reduced https://www.dailyfx.com/forex/technical/article/cot/2019/11/18/US-Dollar-Selling-Reverses-AUD-Shorts-Surge-CAD-Selling-Begins----COT-Report.html?CHID=9&QPID=917713 https://t.co/Q1MUPvkOLE
  • Gold Rate May Dip Further – Bearish Signals on XAU/USD Price Chart More detauils in the link below: https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2019/11/18/Gold-Rate-May-Dip-Further-Bearish-Signals-on-XAUUSD-Price-Chart-MK.html?CHID=9&QPID=917714 https://t.co/KieS0QNOse
  • Heads Up:🇪🇺 EUR Bundesbank Publishes Monthly Report due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-11-18
  • Tune in to @nickcawley1 's #webinar at 6:30 AM ET/11:30 AM GMT to prepare for key UK events and markets in the week ahead. Register here: https://t.co/xewSeUoDaT https://t.co/3G8H3URMTu
  • I guess it is convenient that RBA Governor Lowe will be talking about "unconventional monetary policy" next week https://t.co/FkKLWfZCYR RBA QE in 2020? $AUD https://t.co/d1plTA69sv
Canadian Dollar 2 Equal Legs from High (USDCAD Low)

Canadian Dollar 2 Equal Legs from High (USDCAD Low)

2011-05-17 14:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

240 Minute Bars

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar 2 Equal Legs from High (USDCAD Low)

Prepared by Jamie Saettele, CMT

The USDCAD has traded above its prior month high for the first time since May 2010. The rally reversed however at the 100% extension of the rally from the low and channel resistance. With the rally in 3 waves, it is possible that the larger trend remains down. Near term support is 9700 and 9615 (Fibonacci).

Support/Resistance Index (M,W,D) – 3, 0, 3

Latest Video

Monthly Forecast

Weekly Forecast

COT

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.