USD/CAD 2 Equal Legs Down is Consistent with Correction
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDCAD decline from the March high consists of 2 equal legs, which is characteristic of corrections. The suggestion is that the larger trend is up…as long as price is above 1.0012. Strength above the internal trendline that extends off of the March and early April high is promising.
FOREXTrading Strategy: Long, against 1.0010, target 1.0170 and open
LEVELS: .9932 1.0013 1.0066 1.0170 1.0293 1.0341
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