News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
USDCAD Breaks Through Short Term Trendline

USDCAD Breaks Through Short Term Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Breaks Through Short Term Trendline

Prepared by Jamie Saettele, CMT

No change other than noting that support is now 9839: “The USDCAD is testing former support (now resistance) for the 4th consecutive day. The market has probably accumulated a large number of shorts and corresponding stops above 9860. As such, a breakout strategy is warranted on trade above the 9/26 high (9860) against 9780 and towards 9930. Failure to exceed 9860 keeps the range intact with the listed levels as support.”

LEVELS: 9756 9798 9839 9884 9930 10024

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

DISCLOSURES