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USDCAD Large Range Unfolds in Emotional Market

USDCAD Large Range Unfolds in Emotional Market

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Large Range Unfolds in Emotional Market

Prepared by Jamie Saettele, CMT

“As long as price remains below 9883, then a bearish outcome is possible but a break higher exposes 9928.” The USDCAD erased all of Tuesday’s gains in what undoubtedly fooled the majority. Look lower on balance over the next few days but support is stacked from 9717 to 9728. I will be looking for signs of exhaustion and reversal below 9734.

LEVELS: 9684 9717 9760 9818 9884 9928

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