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USD/CAD Firming ahead of GDP on Friday

USD/CAD Firming ahead of GDP on Friday

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_Picture_5.png, USD/CAD Firming ahead of GDP on Friday

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.

-The market has responded to support (to say the least). This type of action is consistent with formation of an important low. Near term resistance is estimated at 1.1145. Support is estimated at 1.1085 and 1.1000/30.

LEVELS: 1.1000 1.1030 1.1085 | 1.1146 1.1193 1.1223

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

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