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USDCAD Tests 200 Day Average Yet Again

USDCAD Tests 200 Day Average Yet Again

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Tests 200 Day Average Yet Again

Prepared by Jamie Saettele, CMT

No change: “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) – ?

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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