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USD/CAD Turns from Cycle; Watch 1.3200ish

USD/CAD Turns from Cycle; Watch 1.3200ish

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last note remarked that “cycle considerations are worthy of note. The decline from the 2016 top lasted 74 days. Since that point, the fixed length cycle has identified turns (3 days early on the August 2016 low). The next cycle date was Monday but give these cycle dates a window (August low was 3 days after the date for example).” USD/CAD turned down sharply. The current level is ‘no-man’s land’ but pay attention to the recent highs just above 1.3200.

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