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 Narrowly Misses 1.0250; Testing 1.0300

USD/CAD Narrowly Misses 1.0250; Testing 1.0300

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Narrowly Misses 1.0250; Testing 1.0300

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: “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.” Price tested the trendline and has bounced. RSI 40 continues to serve as support. Since the 2012 low, daily RSI has bottomed between 30 and 40. Price is in the right area for a low to form.

FOREXTrading Strategy: Long, stop 1.0250, target half at 1.0440

LEVELS: 1.0173 1.0251 1.0266 1.0325 1.0366 1.0393

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

DISCLOSURES