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
Subscribe
Please try again
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
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd #DailyFXGuides https://t.co/Im099ElT61
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.49% US 500: 0.24% Wall Street: 0.16% FTSE 100: 0.14% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rsPhYcZW22
  • #HSI Hang Seng Index finished slightly below 30,000 mark as Southbound net flow via the stock connections fell three days in a row to HK$ 16,263 million, from a record high of 26,592 million on Jan 19th. Total southbound flows contributed to 31% HKEX's daily turnover on Thur. https://t.co/YkxXUHEFRa
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn more about controlling greed here: https://t.co/5GXReUsKRj https://t.co/edSSfv0SfT
  • Join @PaulRobinsonFX 's webinar at 5:30 AM EST/10:30 AM GMT where you can learn how to become a better trader in the current market climate. Register here: https://t.co/WeWGKtdlyz https://t.co/MPcM0lepdX
  • Heads Up:🇬🇧 BoE Credit Conditions Survey due at 09:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇿🇦 Retail Sales YoY (NOV) Actual: -4% Expected: -2.5% Previous: -2.3% https://www.dailyfx.com/economic-calendar#2021-01-21
  • 🇵🇱 Employment Growth YoY (DEC) Actual: -1% Expected: -1.2% Previous: -1.2% https://www.dailyfx.com/economic-calendar#2021-01-21
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/qA7wZiJfiX
  • 🇪🇸 Balance of Trade (NOV) Actual: €-0.59B Previous: €-0.65B https://www.dailyfx.com/economic-calendar#2021-01-21
FOREX Technical Analysis: USD/CAD Fibonacci and Channel at Lower Levels

FOREX Technical Analysis: USD/CAD Fibonacci and Channel at Lower Levels

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, FOREX Technical Analysis: USD/CAD Fibonacci and Channel at Lower Levels

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.” Price has already dropped beneath 9874. The 50% and 61.8% retracements come in at 9844 and 9794. The latter level intersects with a downward sloping channel on Thursday.

FOREXTrading Strategy: The USDCAD appears extended to the downside intraday and may get a bounce but I’m on the lookout for a reversal from slightly lower levels.

LEVELS: 9717 9794 9844 9905 9954 10009

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

DISCLOSURES