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USD/CAD-Watch for a Failed Rally

USD/CAD-Watch for a Failed Rally

2016-02-02 20:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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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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