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
    1.4159-0.0004-0.03%
    USDSGD=X
    1.5775+0.0023+0.15%
    EURSGD=X
    2.1563-0.004-0.19%
    GBPSGD=X
    84.2541-0.5367-0.63%
    SGDJPY=X
    5.4738+0.0015+0.03%
    SGDHKD=X
    3.0040+0.0104+0.35%
    SGDMYR=X
    10,011.5830-89.0723-0.88%
    SGDIDR=X
    4.4892+0.0012+0.03%
    SGDCNY=X
    0.9883-0.0047-0.47%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,123.80-0.70-0.06%
    GCZ15.CMX
    14.77+0.06+0.43%
    SIZ15.CMX
    45.62-0.61-1.31%
    ^XAU
    2.36-0.02-0.86%
    HGZ15.CMX
    45.96-0.79-1.69%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.49-0.03
    ^FVX
    2.17-0.03
    ^TNX
    2.95-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.148-0.004-2.63%
    F13.SI
    0.131-0.001-0.76%
    5DN.SI
    0.500.00+1.01%
    E94.SI
    0.315+0.005+1.61%
    5WA.SI
    3.71+0.01+0.27%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.13+0.01+4.84%
    KF4.SI
    1.25+0.10+8.70%
    AYB.SI
    0.45+0.03+8.43%
    MN5.SI
    0.28+0.02+7.69%
    AYD.SI
    0.375+0.025+7.14%
    IX2.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.32-0.13-28.89%
    K1Q.SI
    7.30-1.70-18.89%
    S07.SI
    0.104-0.015-12.61%
    5I3.SI
    0.245-0.025-9.26%
    S71.SI
    0.22-0.02-8.33%
    N08.SI