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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: 0.28% Gold: 0.00% Oil - US Crude: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/GkOHR7JE71
  • S&P 500 rising from support, chart pattern revealing itself while #Dow Jones new high brings into play ‘RST’ pattern. Get your equities technical analysis from @PaulRobinsonFX here: https://t.co/Rb5mMrOqkm https://t.co/kA8zeYlpnM
  • #S&P 500 rising from support, chart pattern revealing itself while #Dow Jones new high brings into play ‘RST’ pattern. Get your equities technical analysis from @PaulRobinsonFX here: https://t.co/Rb5mMrOqkm https://t.co/hpPegahqln
  • RT @WallStJesus: * CHATTER (UNCONFIRMED) -- traders citing FBN as citing a trade source suggesting the December 15th tariffs as gong ahead…
  • RT @economics: U.S. manufacturers expect to reduce capital spending in 2020, which would be the first annual decline in 11 years https://t.…
  • $BTCUSD is down over 3.0% from this morning's high https://t.co/UcmXUNsjes
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.20% 🇨🇦CAD: 0.13% 🇬🇧GBP: 0.12% 🇯🇵JPY: -0.03% 🇦🇺AUD: -0.18% 🇳🇿NZD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cuTpe7Glmx
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.05% US 500: -0.08% France 40: -0.08% Wall Street: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/5Bwk0J689x
  • US #oil is up to retest the $59.00 psychological level that has been in play for the past week https://t.co/jDv5lpEcp1
  • Natural Gas trading is popular among traders due to its volatility. How can you trade this? Find out here: https://t.co/GSzSS9fn7Z https://t.co/HvXiOu9rDD
USD/CAD Next  Bull Leg Underway?

USD/CAD Next Bull Leg Underway?

2014-09-09 21:49:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

USD/CAD Next  Bull Leg Underway?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The manner in which USDCAD turned up from the June low (near long term trendline support) indicates resumption of the long term bull trend.

-“Near term trend is higher as long as price is above 1.0800 towards 1.1026/52 (Fibonacci and late April high) but recent action (key reversals and waning momentum) warn of a pullback from nearby. The pullback is underway so look for support from the 50%-61.8% retracements at 1.0764-1.0808.” The low was at 1.0810…look higher.

--Trading ideas are availabletoJ.S. Trade Desk members.

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

DISCLOSURES

News & Analysis at your fingertips.