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 is Still Pressured by Trendline Confluence

USD/CAD is Still Pressured by Trendline Confluence

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD is Still Pressured by Trendline Confluence

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCAD formed an outside week 2 weeks ago. In fact, that 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 long term trendline support.

-The rally from the Sep low forms a channel as does the decline from the July high (bold). A break above the latter channel could trigger a significant move higher.

Trading Strategy: Flat

LEVELS: 1.0365 1.0402 1.0445 | 1.0477 1.0496 1.0547

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

DISCLOSURES