Skip to Content
News & Analysis at your fingertips.

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.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
USD/CAD Major Breakdown Triggered

USD/CAD Major Breakdown Triggered

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

-“USDCAD is either consolidation before another push higher or forming an important top. There is no way to know what the outcome will be ahead of time but a break below trendline support (formerly resistance…the market is at it now) would begin to shift focus to the downside.” The breakdown from a 2 and a half month topping pattern could ‘kick-off’ a much larger decline but near term focus is on early congestion from 1.1931 to 1.2046.

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

DISCLOSURES