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
    1.3612+0.0024+0.17%
    USDSGD=X
    1.5522+0.0027+0.17%
    EURSGD=X
    1.9717+0.0038+0.19%
    GBPSGD=X
    78.6716-0.2805-0.36%
    SGDJPY=X
    5.7020-0.0102-0.18%
    SGDHKD=X
    2.9518-0.0019-0.07%
    SGDMYR=X
    9,811.6289-15.0635-0.15%
    SGDIDR=X
    4.7808-0.0067-0.14%
    SGDCNY=X
    1.0095-0.0049-0.48%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,280.00+7.70+0.61%
    GCM16.CMX
    17.40+0.07+0.39%
    SIN16.CMX
    85.15+1.88+2.26%
    ^XAU
    2.150.00+0.02%
    HGN16.CMX
    44.15-0.17-0.38%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.21-0.03
    ^FVX
    1.75-0.04
    ^TNX
    2.61-0.04
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.22+0.02+10.00%
    AFC.SI
    0.415-0.010-2.35%
    N21.SI
    3.80+0.02+0.53%
    Z74.SI
    0.58-0.01-1.69%
    5HJ.SI
    0.385+0.005+1.32%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.02+10.00%
    AFC.SI
    0.45+0.01+2.27%
    BJE.SI
    0.83+0.02+3.11%
    5ER.SI
    0.1830.0000.00%
    SK3.SI
    0.125+0.002+1.63%
    B9S.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.50-0.04-7.41%
    M05.SI
    0.21-0.02-6.67%
    5RE.SI
    0.65-0.04-5.11%
    U9E.SI
    0.785+0.006+0.77%
    ACV.SI
    0.965-0.020-2.03%
    AP4.SI