Weekly Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Long Term Perspective is Exciting

Prepared by Jamie Saettele, CMT

When the market lulls you to sleep, drink some coffee and look at long term charts. Application of that exercise to the USDCAD reveals a potentially powerful long term bullish base. Still, 10050 remains the near term pivot. As long as price is below that level, we cannot rule out a thrust from a bearish triangle towards 9725.

Bottom Line (next 5 days) – ?