Filed Under:
Forex pairs in this Article » USD/CAD
Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Channel and Trendlines Worth a Look Slightly LowerChart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: Noted in recent days that “momentum has waned since the breakout which is reason to question whether or not the breakout will fail. Still, higher highs are in place above 1.0470 and potential support from the line that extends off of the 6/27 and 7/4 lows is just below current price.” The breakout has failed but watch for support in the coming days from the trendine that extends off of the May and June lows and the parallel channel support line from the line that connects the May and July highs.

FOREXTrading Strategy: Flat

LEVELS: 1.0286 1.0316 1.0345 1.0435 1.0494 1.0570

original source
comments powered by Disqus
Trading Center