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USD/CAD Trades into 5 and 20 Day Average Confluence

USD/CAD Trades into 5 and 20 Day Average Confluence

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Trades into 5 and 20 Day Average Confluence

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: The sharp drop into Friday’s low could complete a flat correction from the 8/2 high. The month open at 1.0276 has held as support. I’m inclined to look higher but there are better trades.

FOREXTrading Strategy: Flat

LEVELS: 1.0173 1.0245 1.0276 1.0362 1.0422 1.0444

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

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