USD/CAD is Nailed to the Month Open Price

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com -

Daily

USD/CAD is Nailed to the Month Open Price

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Channel supports in USDCAD extend from about 1.0780 to 1.0860 (the recent low) this week. 1.0793 also represents the 61.8% extension of the first leg of the drop from the March high.”

-The month open at 1.0840 continues to be tested. The rate needs to stay above this level (daily close) in order to maintain a constructive stance. If lower levels are seen then the 200 DMA comes into play.

LEVELS: 1.0765 1.0813 1.0840 | 1.0880 1.0925 1.0960

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

You May Also Like

Related Forex Analysis
  1. USD/CAD Sloppy Uptrend Challenged; 1.1120 is Key
    Forex News

    USD/CAD Sloppy Uptrend Challenged; 1.1120 is Key

  2. USD/CAD Bullish Candlestick Pattern Awaiting Confirmation
    Forex News

    USD/CAD Bullish Candlestick Pattern Awaiting Confirmation

  3. USD/CAD Strengthened at Monday Session
    Investing

    USD/CAD Strengthened at Monday Session

  4. USD/CAD Technical Analysis: Deeper Losses May Be Ahead
    Forex News

    USD/CAD Technical Analysis: Deeper Losses May Be Ahead

  5. USD/CAD Fell During Friday Session
    Investing

    USD/CAD Fell During Friday Session

Trading Center