240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Bides Time Before Break

Prepared by Jamie Saettele, CMT

“The USDCAD is consolidating below its 200 day average and the 20 day average has acted as resistance this week. Recent consolidation may be a triangle. If a triangle is unfolding, then a pop into 9960/90 would present a short opportunity against 10050.”

Bottom Line (next 5 days) – sideways / down