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USD/CAD Impulsive Rally; Pullback Needed to Get Long

USD/CAD Impulsive Rally; Pullback Needed to Get Long

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Impulsive Rally; Pullback Needed to Get Long

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: Suspicions that the USDCAD was trying to form a low proved correct and the pair is rallying in an impulsive manner. Slightly higher levels (small 4th and 5th waves) likely carry price higher for the next day before a pullback materializes. 1.0320 is support for Friday.

FOREXTrading Strategy: Flat

LEVELS: 1.0245 1.0276 1.0320 1.0355 1.0392 1.0441

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