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
    1.3483+0.0003+0.02%
    USDSGD=X
    1.4771-0.0002-0.01%
    EURSGD=X
    2.0653+0.0005+0.02%
    GBPSGD=X
    91.9120-0.013-0.01%
    SGDJPY=X
    5.7505-0.0013-0.02%
    SGDHKD=X
    2.7071-0.0006-0.02%
    SGDMYR=X
    9,790.1123-2.1807-0.02%
    SGDIDR=X
    4.6014+0.0011+0.02%
    SGDCNY=X
    1.0315-0.0003-0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,188.30-0.50-0.04%
    GCQ15.CMX
    16.69+0.02+0.13%
    SIN15.CMX
    69.83+1.07+1.56%
    ^XAU
    2.760.00-0.14%
    HGN15.CMX
    57.97+0.46+0.80%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.02
    ^FVX
    2.13-0.01
    ^TNX
    2.88+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.195+0.020+11.43%
    F13.SI
    0.415-0.010-2.35%
    E5H.SI
    0.335-0.005-1.47%
    AFC.SI
    0.290.000.00%
    5WA.SI
    4.12-0.04-0.96%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.18+0.03+20.00%
    P36.SI
    0.155+0.021+15.67%
    5F4.SI
    0.128+0.014+12.28%
    510.SI
    0.195+0.020+11.43%
    F13.SI
    0.33+0.03+8.20%
    T18.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.192-0.108-36.00%
    AYE.SI
    0.15-0.02-11.76%
    5MQ.SI
    0.31-0.04-11.43%
    AYL.SI
    0.098-0.011-10.09%
    O2I.SI
    1.80-0.20-10.00%
    AYC.SI