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USD/CAD Stabilizing Before Next Bull Leg

USD/CAD Stabilizing Before Next Bull Leg

2014-02-05 00:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_usd-cad_body_Picture_5.png, USD/CAD Stabilizing Before Next Bull Leg

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Measured objectives from the breakout above the 2011 high range from 1.1680 to 1.1910. The Jul 2009 high rests in this zone at 1.1724 and the 2007 high is near the top of the zone at 1.1875.

-Near term momentum has slowed so a pullback could materialize. 1.1030 is estimated support.

LEVELS: 1.0941 1.0990 1.1030 | 1.1105 1.1132 1.1216

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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