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.

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
EUR/USD
Bullish
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
Oil - US Crude
Bullish
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
Wall Street
Bullish
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
Bullish
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
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: -0.02% Wall Street: -0.13% Germany 30: -0.36% France 40: -0.76% FTSE 100: -1.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zC3LkhJIO2
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/8hv3bqCeKm https://t.co/cAuGZRy8GI
  • 🇬🇧 Markit/CIPS UK Services PMI Final (JUN) Actual: 47.1 Expected: 47 Previous: 29.0 https://www.dailyfx.com/economic-calendar#2020-07-03
  • 🇬🇧 Markit/CIPS Composite PMI Final (JUN) Actual: 47.7 Expected: 47.6 Previous: 30 https://www.dailyfx.com/economic-calendar#2020-07-03
  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Final (JUN) due at 08:30 GMT (15min) Expected: 47 Previous: 29.0 https://www.dailyfx.com/economic-calendar#2020-07-03
  • Heads Up:🇬🇧 Markit/CIPS Composite PMI Final (JUN) due at 08:30 GMT (15min) Expected: 47.6 Previous: 30 https://www.dailyfx.com/economic-calendar#2020-07-03
  • 💶 Markit Composite PMI Final (JUN) Actual: 48.5 Expected: 47.5 Previous: 31.9 https://www.dailyfx.com/economic-calendar#2020-07-03
  • 💶 Markit Composite PMI Final (JUN) Actual: 47 Expected: 47.5 Previous: 31.9 https://www.dailyfx.com/economic-calendar#2020-07-03
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/1FeukhlxGv https://t.co/rNNfV2ZJeA
  • 🇩🇪 Markit Composite PMI Final (JUN) Actual: 47 Expected: 45.8 Previous: 32.3 https://www.dailyfx.com/economic-calendar#2020-07-03
FOREX Technical Analysis: USDCAD Trades at Top of Range

FOREX Technical Analysis: USDCAD Trades at Top of Range

2012-11-09 02:11:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_USDCAD_Trades_at_Top_of_Range_body_usdcad.png, FOREX Technical Analysis: USDCAD Trades at Top of Range

Chart Prepared by Jamie Saettele, CMT

FOREXObservations: “The USDCAD reversed sharply from channel support, which is reinforced by the 38.2% retracement of the rally from 9632 at 9871. Additional resistance is expected at 9994. The rally from 9632 is in 3 waves.” The USDCAD may be completing a corrective advance from 9874.

FOREXTrading Strategy Implications: I still favor selling strength as per the 3 wave structure of the rally from 9632. I wrote yesterday to “be extremely picky with the trigger on this one given the bullish USDOLLAR pattern (wait for 9993). AUDCAD may be a better option.” I took a short today on USDCAD at 9995, which make me short (synthetically) AUDCAD (AUDUSD short and USDCAD short).

LEVELS: 9826 9874 9938 9994 10019 10084

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

DISCLOSURES

News & Analysis at your fingertips.