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Euro Forecast: EUR/USD Price Outlook Bearish Ahead of Key Eurozone Data
2021-07-25 02:00:00
EURUSD Still Owed a Breakout Post-ECB, S&P 500’s Hopes with PMIs a Long-Shot
2021-07-23 02:00:00
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Crude Oil Price Forecast: Rally Back on Track After Bear Trap
2021-07-23 20:50:00
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2021-07-22 09:00:00
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2021-07-25 12:00:00
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2021-07-22 16:00:00
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Gold Price Forecast: Risk of Volatility as Fed Meeting Looms
2021-07-24 22:00:00
Gold Price Forecast – XAU/USD Could Get Put to the Test This Week
2021-07-23 20:00:00
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British Pound (GBP) Weekly Forecast: Attempts to Recover as Sentiment Shifts
2021-07-23 16:00:00
GBP/USD Bounce Fizzles Out Despite Higher Retail Sales in June
2021-07-23 08:00:00
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USD/JPY Rate Tracks Rebound in US Yields Ahead of Fed Rate Decision
2021-07-23 15:00:00
US Dollar Outlook: USD/JPY Mired by Yields, Flash PMIs Due
2021-07-22 22:30:00
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USDCAD Support Zone Centers around 9950

USDCAD Support Zone Centers around 9950

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Support Zone Centers around 9950

Prepared by Jamie Saettele, CMT

The USDCAD pattern from the June 1 high is a complex correction. The overlapping of waves highlights the corrective nature while the extent highlights the complexity. 9935/45 should be exceptionally strong. This level is defined by several 100% extensions (equality of zigzags) and the 78.6% retracement of the advance from 9799. The trendline that extends off of the 2011 and 2012 lows crosses roughly 9950 this week as well.

LEVELS: 9903 9945 9979 10024 10084 10140

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

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