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USDCAD Rips off of Bollinger Band

USDCAD Rips off of Bollinger Band

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Rips off of Bollinger Band

Prepared by Jamie Saettele, CMT

Yesterday’s Bollinger band inside day played out to perfection. “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.” Price is in the middle of the range now and prone to choppy range trading. 9925 is support and 9990 resistance.

Bottom Line (next 5 days) – ?

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