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FOREX Technical Analysis: USD/CAD is Lifeless Right Now

FOREX Technical Analysis: USD/CAD is Lifeless Right Now

2013-01-10 05:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

FOREX_Technical_Analysis_USDCAD_is_Lifeless_Right_Now_body_usdcad.png, FOREX Technical Analysis: USD/CAD is Lifeless Right Now

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: “The 5 wave rally from 9632 does suggest that the trend is higher from that point. The goal now is to identify the secondary low (wave 2 or B).” Near term pattern (since the December low) isn’t especially clear. The case can be made for an impulsive interpretation of both the rally from 9824 and the decline from 9971. In other words, that evidence is of no use right now. It’s best to wait for clarification.

FOREXTrading Strategy: Nothing

LEVELS: 9764 9795 9825 9923 9971 10009

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