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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3772-0.0005-0.04%
    USDSGD=X
    1.5099+0.0008+0.05%
    EURSGD=X
    2.1490+0.0016+0.07%
    GBPSGD=X
    90.1100+0.1049+0.12%
    SGDJPY=X
    5.6302+0.0025+0.04%
    SGDHKD=X
    2.7937-0.0057-0.20%
    SGDMYR=X
    9,803.9219+23.1084+0.24%
    SGDIDR=X
    4.5107+0.0031+0.07%
    SGDCNY=X
    1.0187+0.0161+1.61%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,090.90+1.70+0.16%
    GCU15.CMX
    14.64+0.07+0.50%
    SIZ15.CMX
    46.51+0.98+2.14%
    ^XAU
    2.36+0.02+0.79%
    HGU15.CMX
    46.17+0.61+1.34%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.54+0.03
    ^FVX
    2.18+0.03
    ^TNX
    2.87+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.60+0.13+27.66%
    N21.SI
    2.35+0.15+6.82%
    MC0.SI
    0.32+0.01+3.23%
    E5H.SI
    0.129+0.006+4.88%
    5DN.SI
    0.310.000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.60+0.13+27.66%
    N21.SI
    0.445+0.065+17.11%
    AZT.SI
    0.31+0.05+16.98%
    578.SI
    0.15+0.02+16.28%
    EB7.SI
    0.119+0.014+13.33%
    5FR.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.23-0.04-14.81%
    5WR.SI
    0.425-0.060-12.37%
    MN5.SI
    0.20-0.02-9.09%
    L02.SI
    0.164-0.016-8.89%
    5KU.SI
    0.42-0.04-8.70%
    AZZ.SI