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
FOREX Technical Analysis: USDCAD Rebounds Before Estimated Support

FOREX Technical Analysis: USDCAD Rebounds Before Estimated Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, FOREX Technical Analysis: USDCAD Rebounds Before Estimated Support

Chart Prepared by Jamie Saettele, CMT

FOREXObservations: The USDCAD has traded sideways for 3 days at the late August high. The dip Wednesday reversed before the mentioned support zone (9844/77). 9763 remains the pivot.

FOREXTrading Strategy Implications: The market’s response before support is promising. Market risk remains higher for a break towards the 10200s although one can’t dismiss a drop into 9844/77.

LEVELS: 9763 9844 9877 9976 10024 10084

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

DISCLOSURES