News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
USD/CAD 1.2830s Does it Again?

USD/CAD 1.2830s Does it Again?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD 1.2830s Does it Again?

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.” A head and shoulders top since the September 2015 high is possible. The right shoulder may be forming a triangle. HOWEVER, upside acceleration is also possible (consolidation could break either way), especially considering the response from 1.2830s. Moves off of this price have produced 2 trending moves in 2015.

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES