FOREX Technical Analysis: USD/CAD Unchanged Following Outside Day
Daily Bars
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: "The 5 wave rally from 9632 does suggest that the trend is higher from that point. The goal now is to identify the secondary low (wave 2 or B)." Weakness from here would shift focus to 9794 (Fibonacci level) and the 100% extension of the decline from the November at 9740. Watch channel support as well (if reached).
FOREXTrading Strategy: Look lower as long as price is below 9884 towards 9740.
LEVELS: 9740 9764 9815 9865 9884 9923
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: "The 5 wave rally from 9632 does suggest that the trend is higher from that point. The goal now is to identify the secondary low (wave 2 or B)." Weakness from here would shift focus to 9794 (Fibonacci level) and the 100% extension of the decline from the November at 9740. Watch channel support as well (if reached).
FOREXTrading Strategy: Look lower as long as price is below 9884 towards 9740.
LEVELS: 9740 9764 9815 9865 9884 9923
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