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USDCAD is Stationary

USDCAD is Stationary

2012-03-21 21:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD is Stationary

Prepared by Jamie Saettele, CMT

10050 is the pivot (below is bearish and above is bullish) for USDCAD. As long as price is below that level, respect the potential for a break lower from a bearish triangle towards the 8/31/11 low of 9725. Exceeding 10050 would also place USDCAD back above its 50 and 200 day averages. The proximity of these long term moving averages is indicative of the lack of recent direction.

Bottom Line (next 5 days) – ?

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