USD/CAD Trades into Year Long Trendline; 100% Extension
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-USDCAD broke the series of higher lows (and the last 2 months’ lows).
-Price reached the line that extends off of the September 2012 and January 2013 lows as well as the 100% extension of the decline from the July high (2 equal legs).
-A breakdown from here would open up a run on the June low at 1.0136 and 50% retracement of the rally from the September 2012 low at 1.0120.
Trading Strategy: Flat
LEVELS: 1.0120 1.0136 1.0172 | 1.0253 1.0274 1.0317
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