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
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • FTSE @ 6,150...just 80 points away from the early March gap...#ftse #stocks @DailyFXTeam https://t.co/X95auU1GC8
  • Heads Up:🇫🇷 Business Confidence due at 06:45 GMT (15min) Expected: 85 Previous: 82 https://www.dailyfx.com/economic-calendar#2020-05-26
  • Can anyone explain Bitcoin's 'flash crash'??? #BTC #bitcoin @DailyFXTeam 🤔🤔 https://t.co/jeravYvq68
  • #Gold rising alongside stocks and yields. 'Risk-on' tilt has driven #USD lower, so anti-fiat demand may be overpowering other forces. Classic 'risk-on' elsewhere: #AUD and #NZD up with #SPX500 futures, #JPY down alongside #bonds https://t.co/D6iK49Kfsz
  • 🇩🇪 GfK Consumer Confidence Actual: -18.9 Expected: -18.3 Previous: -23.1 https://www.dailyfx.com/economic-calendar#2020-05-26
  • 🇨🇭 Balance of Trade Actual: CHF4.3B Previous: CHF3.1B https://www.dailyfx.com/economic-calendar#2020-05-26
  • 🇩🇪 GfK Consumer Confidence Actual: -18.9 Expected: -18.3 Previous: -23.4 https://www.dailyfx.com/economic-calendar#2020-05-26
  • Heads Up:🇨🇭 Balance of Trade due at 06:00 GMT (15min) Previous: CHF3.2B https://www.dailyfx.com/economic-calendar#2020-05-26
  • Heads Up:🇩🇪 GfK Consumer Confidence due at 06:00 GMT (15min) Expected: -18.3 Previous: -23.4 https://www.dailyfx.com/economic-calendar#2020-05-26
  • Since talks of stimulus and monetary easing continue to take place, the longer term outlook for #gold remains constructive. Get your $XAUUSD market update from @PeterHanksFX here: https://t.co/s5sFogjgrq https://t.co/OdZTEgEATw
FOREX Technical Analysis: USDCAD Approaching August High

FOREX Technical Analysis: USDCAD Approaching August High

2012-10-29 20:03:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, FOREX Technical Analysis: USDCAD Approaching August High

Chart Prepared by Jamie Saettele, CMT

FOREXObservations: The USDCAD is approaching the 38.2% retracement of the decline from the October 2011 high and August high at 10084. Expect a market response at these levels.

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.” Now that the mentioned level is just about reached, expect a pullback. 9940/70 is support.

LEVELS: 9918 9943 9976 10024 10084 10100

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

DISCLOSURES

News & Analysis at your fingertips.