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of clients are net long.
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  • Gold, Crude Oil Price Forecast: Edging Higher on the Back of Stimulus, Saudi Oil Facility Attack https://www.dailyfx.com/forex/market_alert/2021/03/08/Gold-Crude-Oil-Price-Forecast-Edging-Higher-on-the-Back-of-Stimulus-Saudi-Oil-Facility-Attack.html https://t.co/ZXrwjTaK3W
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  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/ZdQnb2WoEc
  • Heads Up:🇯🇵 Eco Watchers Survey Outlook (FEB) due at 06:00 GMT (15min) Previous: 39.9 https://www.dailyfx.com/economic-calendar#2021-03-08
  • Heads Up:🇯🇵 Eco Watchers Survey Current (FEB) due at 06:00 GMT (15min) Previous: 31.2 https://www.dailyfx.com/economic-calendar#2021-03-08
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.46%, while traders in France 40 are at opposite extremes with 76.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7GEejdJ4ZR
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.26% 🇯🇵JPY: 0.03% 🇨🇦CAD: 0.02% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.06% 🇨🇭CHF: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/RksdDJPivS
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.80% France 40: 0.61% Germany 30: 0.41% Wall Street: 0.04% US 500: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PDpZBRrLRJ
  • 🇯🇵 Leading Economic Index Prel (JAN) Actual: 99.1 Previous: 97.7 https://www.dailyfx.com/economic-calendar#2021-03-08
USD/CAD-Watch for a Failed Rally

USD/CAD-Watch for a Failed Rally

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD-Watch for a Failed Rally

Chart Prepared by Jamie Saettele, CMT

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

-The last update noted that “a move back into the channel would suggest that trade in recent weeks was some sort of a ‘blow-off’ top.” USD/CAD has traded back into the channel, which suggests that suspicions of a blow-off top were correct. The implication is that USD/CAD has topped and is heading lower.

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

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