USD/CAD Large Range Key Reversal at Huge Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-More important, the reversal occurs near 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) AND corrective channel support.
Trading Strategy: USDCAD (along with USDMXN and USDZAR) are the best reversal setups. I’ll wait for a new week to act on the evidence.
LEVELS: 1.0136 1.0184 1.0233 | 1.0274 1.0317 1.0355