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USDCAD Nears Range Low at 9840

USDCAD Nears Range Low at 9840

2012-04-24 20:46:00
Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Nears Range Low at 9840

Prepared by Jamie Saettele, CMT

My best guess is that sideways trade in recent months composes a triangle. In this case, the triangle is bearish and a terminal thrust below 9841 would complete a bearish cycle. Until that happens, don’t waste your time looking at the USDCAD. There are better trades out there, including EURCAD and AUDCAD.

Bottom Line (next 5 days) – ?

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