News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
USD/CAD Follows Through on 1.0355 Breakout

USD/CAD Follows Through on 1.0355 Breakout

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Follows Through on 1.0355 Breakout

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCAD has taken out 1.0355. That level is significant because it is the 9/13 high, which was a Friday before a gap lower. The level served as resistance on 10/2.

Trading Strategy: “USDCAD appears to be ‘stair-stepping’. This action can lead to acceleration of the directional move, in this case higher. Target half at 1.0495.” 1.0350/70 is now support.

LEVELS: 1.0330 1.0350 1.0370 | 1.0420 1.0496 1.0547

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

DISCLOSURES