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EURUSD Still Owed a Breakout Post-ECB, S&P 500’s Hopes with PMIs a Long-Shot
2021-07-23 02:00:00
US Dollar Outlook: USD/JPY Mired by Yields, Flash PMIs Due
2021-07-22 22:30:00
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Crude Oil Price Forecast: Rally Back on Track After Bear Trap
2021-07-23 20:50:00
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Delta Variant Concerns Won't Cripple Markets, US Economy - Market Minutes
2021-07-22 16:00:00
What is Earnings Season & What to Look for in Earnings Reports?
2021-07-22 05:00:00
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Gold Price Forecast – XAU/USD Could Get Put to the Test This Week
2021-07-23 20:00:00
Gold (XAU/USD) and Silver (XAG/USD) at Critical Levels ahead of FOMC
2021-07-23 11:25:00
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British Pound (GBP) Weekly Forecast: Attempts to Recover as Sentiment Shifts
2021-07-23 16:00:00
GBP/USD Bounce Fizzles Out Despite Higher Retail Sales in June
2021-07-23 08:00:00
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USD/JPY Rate Tracks Rebound in US Yields Ahead of Fed Rate Decision
2021-07-23 15:00:00
US Dollar Outlook: USD/JPY Mired by Yields, Flash PMIs Due
2021-07-22 22:30:00
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USD/CAD Support Near 1.0260 and Resistance Near 1.0330

USD/CAD Support Near 1.0260 and Resistance Near 1.0330

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Support Near 1.0260 and Resistance Near 1.0330

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCAD rally reversed at the confluence of the line that extends off of the June and July lows and short term channel resistance. The level is also the May high.

-The USDCAD broke the channel that defines action from the Sep low last Wednesday and then took out the 10/1 low. Watch for support from the 9/19 close (large volume day and large range reversal) at 1.0263.

-Weakness from the October high is impulsive. The suggestion is that strength proves corrective.

Trading Strategy: Flat

LEVELS: 1.0181 1.0222 1.0264 | 1.0330 1.0380 1.0396

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

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