FOREX Technical Analysis: USD/CAD Trades Relatively Unchanged from Tuesday

By Jamie Saettele, CMT | DailyFX – Thu, Nov 15, 2012 9:29 AM SGT

Daily Bars

FOREX_Technical_Analysis_USDCAD_Trades_Relatively_Unchanged_from_Tuesday_body_usdcad.png, FOREX Technical Analysis: USD/CAD Trades Relatively Unchanged from Tuesday

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USD/CAD continues to press against the 38.2% retracement of the decline from the October 2011 high. The response at the retracement and the specter of 5 waves up from 9632 suggests that those banking on a breakout exercise extra caution.

FOREXTrading Strategy: A cautious bullish bias is warranted as long as price is above Monday’s 9984 low. A drop below would probably lead to a deeper correction of the rally from 9632 towards at least 9874. 10084 and 10159 come into play in the event of an extended advance.

LEVELS: 9947 9965 9984 10065 10084 10159

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Market Data

  • Currencies
    NamePriceChange% Chg
    1.25470.00+0.04%
    USDSGD=X
    1.61720.00+0.08%
    EURSGD=X
    1.9136-0.00-0.01%
    GBPSGD=X
    81.67110.13+0.16%
    SGDJPY=X
    6.1859-0.00-0.05%
    SGDHKD=X
    2.4002-0.00-0.12%
    SGDMYR=X
    7,778.6929-2.73-0.04%
    SGDIDR=X
    4.8879-0.01-0.17%
    SGDCNY=X
    1.23050.00+0.04%
    AUDSGD=X
    More Currencies »
  • Commodities
    NamePriceChange% Chg
    1,388.604.50+0.33%
    GCM13.CMX
    22.56-0.03-0.12%
    SIN13.CMX
    103.065.58+5.72%
    ^XAU
    3.35-0.01-0.25%
    HGN13.CMX
    96.89-0.04-0.04%
    CLN13.NYM
    More Commodities »
  • Bonds
    TreasuryYield (%)Yield Change
    0.840.00
    ^FVX
    1.960.02
    ^TNX
    3.170.01
    ^TYX
    More Bonds »

MARKET MOVERS

  • Most Actives
    NamePriceChange% Chg
    0.109-0.00-1.80%
    5RJ.SI
    0.575-0.00-0.86%
    E5H.SI
    0.390.06+20.00%
    M9F.SI
    1.06-0.02-1.40%
    N21.SI
    0.670.00+0.00%
    Y92.SI
    More Most Actives »
  • % Gainers
    NamePriceChange% Chg
    0.390.06+20.00%
    M9F.SI
    0.250.04+19.05%
    5MQ.SI
    0.120.02+18.81%
    T16.SI
    0.6250.09+16.82%
    I06.SI
    0.760.09+14.29%
    A26.SI
    More % Gainers »
  • % Losers
    NamePriceChange% Chg
    0.11-0.01-8.33%
    5QZ.SI
    0.112-0.01-5.88%
    B64.SI
    0.21-0.01-4.55%
    O2I.SI
    0.70-0.03-4.11%
    L5I.SI
    0.12-0.01-4.00%
    588.SI
    More % Losers »