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. See our updated Privacy Policy here.

USD/CAD Coiled for a Move-Resolution Awaits

03 Mar 2015 21:29, GMT
Jamie Saettele, CMT, Sr. Technical Strategist

Share:

Daily

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The contracting range indicates potential for a triangle from the high. Typically, a triangle will lead to a thrust in the direction of the preceding trend. In this case, that is bullish. Don’t be dogmatic though. A break of 1.2350 would open up a parallel as support near 1.2200.

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

DISCLOSURES

Related Articles:

Will Inflation Concerns Rattle the FOMC amid Weaker US Growth? 26 Apr 2024 15:12, GMT
​​​FTSE 100 hits yet another record high while DAX 40 and S&P 500 resume their ascents 26 Apr 2024 10:00, GMT
Australian Dollar Outlook – AUD/USD and AUD/JPY Technical and Sentiment Analysis 25 Apr 2024 19:00, GMT
Risk Rally Supports FX Correction Ahead of US GDP, PCE Data 25 Apr 2024 13:00, GMT
STOP!

From December 19th, 2022, this website is no longer intended for residents of the United States.

Content on this site is not a solicitation to trade or open an account with any US-based brokerage or trading firm

By selecting the box below, you are confirming that you are not a resident of the United States.