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Euro Forecast: EUR/USD Week Ahead Outlook Poor, ECB Meeting in Focus
2021-01-17 01:00:00
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Markets Week Ahead: Russell 2000, S&P 500, Gold, USD, Biden Stimulus, Earnings, ECB
2021-01-17 16:00:00
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USDCAD Bollinger Band Setup Once More

USDCAD Bollinger Band Setup Once More

2012-04-18 22:09:00
Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Bollinger Band Setup Once More

Prepared by Jamie Saettele, CMT

Unable to extend weakness after yesterday’s hawkish comments from the Bank of Canada, the USDCAD formed an inside day. Inside days at the 2nd standard deviation band are low risk contrarian setups (in this case long) and the USDCAD has been bouncing between its 2nd STD DEV (Bollinger) bands anyway since February.

Bottom Line (next 5 days) – higher?

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

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