USD/CAD Level is a Good one For Consolidation

By DailyFx | Updated August 07, 2014 AAA

DailyFX.com -

Daily

USD/CAD Level is a Good one For Consolidation

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.

comments powered by Disqus
Related Forex Analysis
  1. USD/CAD Technical Analysis: Down Move Pauses Below 1.12
    Forex News

    USD/CAD Technical Analysis: Down Move Pauses Below 1.12

  2. USD/CAD Responds to Channel Support
    Forex News

    USD/CAD Responds to Channel Support

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

    USD/CAD Technical Analysis: Support Found Above 1.11

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

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

  5. USD/CAD Technical Analysis: Sellers Overcome 1.12 Figure
    Forex News

    USD/CAD Technical Analysis: Sellers Overcome 1.12 Figure

Trading Center