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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.170.00+3.03%
    N21.SI
    0.20+0.01+3.09%
    SK3.SI
    0.98-0.01-1.51%
    G13.SI
    0.425-0.015-3.41%
    E5H.SI
    0.3750.0000.00%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.30+0.07+30.43%
    BLZ.SI
    0.445+0.075+20.27%
    BLL.SI
    0.265+0.035+15.22%
    BQN.SI
    0.49+0.06+13.95%
    F03.SI
    0.188+0.017+9.94%
    KJ5.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.44-0.04-8.33%
    573.SI
    0.15-0.01-6.25%
    M11.SI
    0.30-0.02-6.25%
    BTG.SI
    0.26-0.02-5.45%
    C13.SI
    0.36-0.02-5.26%
    BBP.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4296+0.0057+0.40%
    USDSGD=X
    1.5084-0.0025-0.17%
    EURSGD=X
    1.7945+0.0048+0.27%
    GBPSGD=X
    80.3520+0.229+0.29%
    SGDJPY=X
    5.4247-0.018-0.33%
    SGDHKD=X
    3.0918-0.0137-0.44%
    SGDMYR=X
    9,317.2754-16.5762-0.18%
    SGDIDR=X
    4.8256-0.0041-0.08%
    SGDCNY=X
    1.0641+0.003+0.28%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,158.40-11.40-0.97%
    GCZ16.CMX
    16.82-0.20-1.20%
    SIZ16.CMX
    80.08-2.49-3.01%
    ^XAU
    2.64+0.03+0.95%
    HGZ16.CMX
    51.48+0.64+1.26%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.88+0.06
    ^FVX
    2.46+0.08
    ^TNX
    3.15+0.07
    ^TYX