We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • S&P 500 Continues Recovery, NFP Looms Large for US Data https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/03/30/ES-SPY-SPX-SP500-Continues-Recovery-NFP-Looms-Large-JS.html https://t.co/SZLy1nqPaz
  • US House Speaker Nancy Pelosi says she does not expect bipartisan virus bill until after After break $SPX $DXY
  • RT @lisaabramowicz1: The economic downturn is happening so fast that the New York Fed launched a new weekly economic index that assesses re…
  • #Gold: Price is holding up well with a small consolidation phase that could lead gold higher towards the 1680/1700 region. Get your $XAUUSD market update from @PaulRobinsonFX here: https://t.co/R5C6K0IVWh https://t.co/Gw0DX1VAgB
  • #Crypto update: $BTC +4.7% $BCH +6.2% $ETH +4.1% $LTC +2.4% $XRP +2.4%
  • RT @SPGlobalRatings: As the longest economic expansion in U.S. history abruptly ends, we forecast GDP will drop 1.3% this year--on par with…
  • $USDCAD staged a meteoric rise earlier this month before stalling out around 1.4669. Get your USD/CAD technical analysis from @PeterHanksFX here:https://t.co/22H6lN4e99 https://t.co/cjR1NfQJz6
  • RT @dlacalle_IA: Moody's estimates that around 22% of non-investment grade debt in Europe will not be able to service their debt, vs 1.5% a…
  • President Trump and President Putin agreed in a phone call on the importance of stability in global energy markets according to White House #CrudeOil
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.44% Gold: -0.49% Silver: -3.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/O8t1oXzJVt
USDCAD Enters Late August and Early September Congestion Zone

USDCAD Enters Late August and Early September Congestion Zone

2012-09-26 22:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Enters Late August and Early September Congestion Zone

Prepared by Jamie Saettele, CMT

“The USDCAD is actually showing the most reversal evidence with a key reversal on 9/14 and large range day (indicating possible exhaustion) on 9/13. Probing 9800 for the 4th day in 5, expect a break and test of 9840 (2 extensions and former support). If the market doesn’t respond there, then 9930 is the next level. 9780-9800 is support.” The USDCAD traded through 9840 but faces a real test from the 23.6% retracement of the decline from 10657 and short term trendline (current level to 9874). 9930 is significant and reward/risk favors bears with each tick higher against that level.

LEVELS: 9725 9756 9820 9874 9900 9930

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

DISCLOSURES

News & Analysis at your fingertips.