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USD/CAD Touches Long Term Fibonacci Retracement at 1.1666

USD/CAD Touches Long Term Fibonacci Retracement at 1.1666

2014-12-16 17:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Touches Long Term Fibonacci Retracement at 1.1666

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.”

-“USDCAD is consolidating above bullish lines. If the trend is still higher, then the rate should hold these lines”.

-“USDCAD has propelled higher and is probably headed into upper parallels. Levels of interest on the upside are 1.1666 and 1.1723.”

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

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