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USD/CAD Former Resistance Becomes Support

USD/CAD Former Resistance Becomes Support

2014-10-09 19:01:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Former Resistance Becomes Support

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.

-Trade since the March high is forming a sequence of continuation patterns (of the head and shoulders variety). Look higher as long as above 1.0885. Support is estimated near 1.10.

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

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