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FOREX Technical Analysis: USDCAD Inside Day Forms

FOREX Technical Analysis: USDCAD Inside Day Forms

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, FOREX Technical Analysis: USDCAD Inside Day Forms

Chart Prepared by Jamie Saettele, CMT

FOREXObservations: The USDCAD has traded sideways for 4 days at the late August high. A look at near term price action reveals a potential triangle.

FOREXTrading Strategy Implications: “The market’s response before support is promising.” Market risk remains higher for a break towards 10024 but perhaps in just a terminal thrust from a triangle.

LEVELS: 9763 9844 9877 9976 10024 10084

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