USD/CAD Dip into Former 1.0420 Would Present Long Opportunity
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-USDCAD formed an outside week last week. In fact, last week’s price range engulfs the prior 3 week’s price range and takes out the prior 6 week’s highs. The market has responded well to trendline support.
Trading Strategy: Order to go long at 1.0420 with a 1.0360 stop. Target half at 1.0545.
LEVELS: 1.0365 1.0395 1.0420 | 1.0470 1.0496 1.0547
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.