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USD/CAD Fails to Follow Through on Upside Thus Far

USD/CAD Fails to Follow Through on Upside Thus Far

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-cad_body_Picture_5.png, USD/CAD Fails to Follow Through on Upside Thus Far

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 broken out. A measured objective is 1.1538 but longer term chart levels are not until 1.1723 and 1.1875. Look higher as long as the rate is above 1.1030.

LEVELS: 1.1034 1.1120 1.1159 | 1.1239 1.1277 1.1337

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

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