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USD/CAD Declines for 4th Consecutive Day

USD/CAD Declines for 4th Consecutive Day

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_usd-cad_body_usdcad.png, USD/CAD Declines for 4th Consecutive Day

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCAD has declined for 4 consecutive days. Price has also declined for 6 of the last 7 days.

-After Tuesday’s hold, price closed below the line that extends off of the May, and July lows on Wednesday.

-The series of higher lows is in place as long as price is above 1.0244. Weakness

Trading Strategy: Flat

LEVELS: 1.0245 1.0275 1.0315 | 1.0364 1.0418 1.0470

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