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.

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
Mixed
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • #SP500 and #DowJones may fall based on recent technical warning signs, will retail investors chase the bottom and what may that mean for their price trends? - https://www.dailyfx.com/forex/technical/article/special_report/2020/09/23/SP-500-and-Dow-Jones-May-Fall-Will-Retail-Investors-Chase-the-Bottom.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/aSpylweldY
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/7SXusrNOtH
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.08% 🇯🇵JPY: -0.13% 🇨🇦CAD: -0.14% 🇪🇺EUR: -0.25% 🇳🇿NZD: -0.28% 🇦🇺AUD: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wmhHLJysGa
  • Heads Up:🇳🇱 GDP Growth Rate QoQ Final (Q2) due at 04:30 GMT (15min) Expected: -8.5% Previous: -1.5% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Heads Up:🇳🇱 GDP Growth Rate YoY Final (Q2) due at 04:30 GMT (15min) Expected: -9.3% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Heads Up:🇯🇵 All Industry Activity Index MoM (JUL) due at 04:30 GMT (15min) Previous: 6.1% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.70% Germany 30: 0.42% France 40: 0.38% Wall Street: 0.35% US 500: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wjtAMSYONm
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.35B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • 🇹🇭 Balance of Trade (AUG) Actual: $4.30B Expected: $3.45B Previous: $3.34B https://www.dailyfx.com/economic-calendar#2020-09-23
  • #Copper Price Outlook Remains Bullish Despite Shift in Risk Appetite #XCUUSD $HG https://www.dailyfx.com/forex/market_alert/2020/09/23/Copper-Price-Outlook-Remains-Bullish-Despite-Shift-in-Risk-Appetite.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/VvFm9ekfaB
FOREX Technical Analysis: USD/CAD Trade Setup against November Low

FOREX Technical Analysis: USD/CAD Trade Setup against November Low

2012-11-30 00:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_USDCAD_Trade_Setup_against_November_Low_body_usdcad.png, FOREX Technical Analysis: USD/CAD Trade Setup against November Low

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: No change - “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. The USDCAD reversed sharply before reaching 9900. The corrective nature of weakness from 10056 is suggestive of a move back towards parity. Given the length of time that the rally from 9632 consumed, it’s more probable that the 3 wave decline from 10056 is just wave A of a larger corrective pattern rather than the entire correction.”

FOREXTrading Strategy: Near term, loo higher towards parity but into a top for a larger decline towards 9874.

LEVELS: 9835 9874 9905 9960 10009 10056

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

DISCLOSURES