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USD/CAD Conditions for a Range Trading Period

USD/CAD Conditions for a Range Trading Period

2016-06-07 18:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Conditions for a Range Trading Period

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The May low in USD/CAD is at (exactly) former channel resistance but the recent high is also at a well-defined level. Hmmm…strong support and strong resistance…sounds like conditions for a range period. Price action within a range is often indecipherable from an Elliott standpoint given the myriad pattern possibilities.

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