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. See our updated Privacy Policy here.

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
More View more
USD/CAD Sideways Trade May Give Way to Thrust on Trendline

USD/CAD Sideways Trade May Give Way to Thrust on Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Sideways Trade May Give Way to Thrust on Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: The USDCAD has traded sideways all week in what could be a triangle. The implications are for a final low below 1.0325 before a reversal to the upside. Watch for support from the trendine that extends off of the May and June lows and the parallel channel support line from the line that connects the May and July highs.

FOREXTrading Strategy: Flat

LEVELS: 1.0286 1.0316 1.0363 1.0440 1.0494 1.0570

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

DISCLOSURES