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USD/CAD 1.42 is a Useful Pivot

USD/CAD 1.42 is a Useful Pivot

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD 1.42 is a Useful Pivot

Chart Prepared by Jamie Saettele, CMT

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

-Despite extremely high RSI readings on the daily (above 85 the last several days), respect upside while above 1.42 (daily close basis). This level marks the top side of former channel resistance. A move back into the channel would suggest that trade in recent weeks was some sort of a ‘blow-off’ top.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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