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USD/CAD Rolls Over at a Slope Confluence

USD/CAD Rolls Over at a Slope Confluence

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

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

-“USDCAD has turned up from just below 1.1931 (low was 1.1919). The break above the median line opens up a run on former support from 1.2350 to 1.2447.”

-USDCAD rolled over after reaching a high volume level (3/18 close) at 1.2559. Today’s (6/2) pullback has reached the mentioned median line. Given near term momentum, additional downside may be in store into 1.2200/50.

For more analysis and trade setups, visit SB Trade Desk

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