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USD/CAD Wide Range Daily Doji at Long Term Technical Level

USD/CAD Wide Range Daily Doji at Long Term Technical Level

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

USD/CAD Wide Range Daily Doji at Long Term Technical Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDCAD has pushed through the 2007 high at 1.1875, 61.8% extension of the 2007-2009 rally from the 2011 low at 1.1882, and several upward sloping parallels. Weakness under 1.1834 would suggest a pullback is underway. After 1.20, the next level of interest wouldn’t be until the 78.6% retracement of the decline from the 2009 high at 1.2280.

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

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