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USD/CAD Trading at the Exact Center of its Channel

USD/CAD Trading at the Exact Center of its Channel

2017-03-23 20:41:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Trading at the Exact Center of its Channel

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“USD/CAD 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 (3/13) but give these cycle dates a window (August low was 3 days after the date for example).” USD/CAD has turned down sharply. The current level is ‘no-man’s land’ but pay attention to the recent highs just above 1.3200 for support.

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