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

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
    Currencies
    NamePriceChange% Chg
    1.3290+0.0017+0.12%
    USDSGD=X
    1.4459+0.0013+0.09%
    EURSGD=X
    2.0243+0.0031+0.15%
    GBPSGD=X
    89.6211-0.1062-0.12%
    SGDJPY=X
    5.8319-0.0074-0.13%
    SGDHKD=X
    2.6706-0.00010.00%
    SGDMYR=X
    9,772.3877+15.7217+0.16%
    SGDIDR=X
    4.6673-0.0184-0.39%
    SGDCNY=X
    1.0458+0.0038+0.36%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,200.00-3.20-0.27%
    GCM15.CMX
    16.32-0.07-0.45%
    SIK15.CMX
    71.68+1.72+2.46%
    ^XAU
    2.76-0.01-0.34%
    HGK15.CMX
    56.57-0.42-0.74%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.34+0.02
    ^FVX
    1.92+0.01
    ^TNX
    2.61-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.850.000.00%
    N21.SI
    0.635+0.005+0.79%
    F83.SI
    0.690.00-0.72%
    M1P.SI
    0.7650.0000.00%
    Y92.SI
    0.2750.0000.00%
    5DM.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.159+0.046+40.71%
    5IF.SI
    0.129+0.019+17.27%
    5UA.SI
    0.245+0.010+4.26%
    41A.SI
    0.205+0.008+4.06%
    AFC.SI
    0.465+0.010+2.20%
    A7S.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.40-0.03-6.98%
    UV1.SI
    1.305-0.075-5.43%
    S35.SI
    0.815-0.040-4.68%
    P52.SI
    0.32-0.02-4.48%
    K1Q.SI
    0.33-0.02-5.71%
    N4E.SI