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
    1.3919-0.0049-0.35%
    USDSGD=X
    1.5684-0.0087-0.55%
    EURSGD=X
    2.0210+0.0002+0.01%
    GBPSGD=X
    81.7393-0.6742-0.82%
    SGDJPY=X
    5.5995+0.0171+0.31%
    SGDHKD=X
    2.9597-0.0274-0.92%
    SGDMYR=X
    9,659.7021-69.6924-0.72%
    SGDIDR=X
    4.7243+0.0802+1.73%
    SGDCNY=X
    0.9896+0.0014+0.14%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,193.60-5.00-0.42%
    GCJ16.CMX
    15.26-0.19-1.22%
    SIH16.CMX
    54.77+0.42+0.77%
    ^XAU
    2.02-0.02-1.05%
    HGH16.CMX
    27.41-0.53-1.90%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.14-0.01
    ^FVX
    1.70-0.02
    ^TNX
    2.53-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    1.63-0.05-2.98%
    MC0.SI
    0.325-0.005-1.52%
    N21.SI
    3.66-0.04-1.08%
    Z74.SI
    0.685-0.020-2.84%
    G13.SI
    0.375-0.010-2.60%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.195+0.035+21.87%
    5WR.SI
    0.196+0.026+15.29%
    D79.SI
    0.28+0.03+14.29%
    5SY.SI
    54.640.000.00%
    NF6.SI
    0.39+0.04+11.43%
    AXJ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.30-0.45-25.71%
    5SR.SI
    0.14-0.03-17.16%
    B69.SI
    3.63-0.22-5.71%
    H1O.SI
    0.192-0.023-10.70%
    AWQ.SI
    0.30-0.03-9.09%
    41A.SI