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
    1.3487+0.002+0.14%
    USDSGD=X
    1.4978-0.0028-0.18%
    EURSGD=X
    2.1112-0.0052-0.24%
    GBPSGD=X
    91.1696+0.2949+0.32%
    SGDJPY=X
    5.7478-0.0075-0.13%
    SGDHKD=X
    2.7840-0.0054-0.19%
    SGDMYR=X
    9,889.9014-25.8516-0.26%
    SGDIDR=X
    4.5970-0.01-0.22%
    SGDCNY=X
    1.0362-0.0015-0.15%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,171.30-0.50-0.04%
    GCQ15.CMX
    15.60+0.02+0.12%
    SIU15.CMX
    63.14-0.77-1.20%
    ^XAU
    2.620.00+0.06%
    HGU15.CMX
    58.58-0.89-1.50%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.630.00
    ^FVX
    2.340.00
    ^TNX
    3.10+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.30+0.01+1.69%
    5WA.SI
    0.755-0.005-0.66%
    N21.SI
    0.260.00+1.96%
    AFC.SI
    4.26+0.05+1.19%
    Z74.SI
    0.305-0.025-7.58%
    R14.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.05+27.91%
    AWR.SI
    0.194+0.040+25.97%
    AYE.SI
    2.40+0.48+25.00%
    S91.SI
    0.265+0.030+12.77%
    5PL.SI
    0.36+0.04+12.50%
    5NF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.187-0.128-40.63%
    AZR.SI
    0.12-0.05-27.27%
    40R.SI
    1.18-0.43-26.71%
    AXL.SI
    0.88-0.20-18.52%
    AWG.SI
    0.41-0.09-18.00%
    BAJ.SI