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USD/CAD Pushing Towards Upper Channel Line

USD/CAD Pushing Towards Upper Channel Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Pushing Towards Upper Channel Line

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-“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 USD/CAD pattern has completed. The measured objective from the pattern is 1.4100. There is a Fibonacci level to pay attention to at 1.3839, which intersects with channel resistance.

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