Daily Bars

Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: The USDCAD rally from September is in 5 waves therefore the reversal should be respected. The most common retracement area following 5 wave movements is the former 4th wave, which comes in at 9874.
FOREXTrading Strategy: Risk remains lower towards 9874, especially with price below 9991. Let the corrective decline from 10056 play out…we may have an opportunity to buy lower early next week.
LEVELS: 9835 9874 9894 9960 10009 10056