Skip to Content
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 Following Through; 1.3409 Remains the Pivot

USD/CAD Following Through; 1.3409 Remains the Pivot

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Recent updates noted that “a bullish USD/CAD doesn’t jive with a broader USD breakdown but maybe CAD is a sale on crosses at this point. Either way, pay attention because a break through the December-March line (testing now) would complete a head and shoulders continuation pattern (origin of pattern is the November high).” The pattern has completed and is valid while above 1.3409 (below is a failed breakout). The measured objective from the pattern is 1.4100. There is a Fibonacci level to pay attention to at 1.3839.

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

DISCLOSURES