USD/CAD 1.1025/50 Still in Focus

By DailyFx | Updated August 12, 2014 AAA

DailyFX.com -

Daily

USD/CAD 1.1025/50 Still in Focus

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-The manner in which USDCAD turned up from the June low (near long term trendline support) indicates resumption of the long term bull trend.

-The current level may inspire consolidation but near term trend is higher as long as price is above 1.0800 towards 1.1026/52 (Fibonacci and late April high).

--Trading ideas are availabletoJ.S. Trade Desk members.

Related Forex Analysis
  1. USD/CAD Retests Critical Barrier After Bearish Pattern Falls Flat
    Forex News

    USD/CAD Retests Critical Barrier After Bearish Pattern Falls Flat

  2. USD/CAD Technical Analysis: Down Move Pauses Below 1.12
    Forex News

    USD/CAD Technical Analysis: Down Move Pauses Below 1.12

  3. USD/CAD Responds to Channel Support
    Forex News

    USD/CAD Responds to Channel Support

  4. USD/CAD Technical Analysis: Support Found Above 1.11
    Forex News

    USD/CAD Technical Analysis: Support Found Above 1.11

  5. USD/CAD Bearish Pattern Awaits Validation To Warn Of Deeper Pullback
    Forex News

    USD/CAD Bearish Pattern Awaits Validation To Warn Of Deeper Pullback

Trading Center