USD/CAD at Risk of Pullback to 1.0800

By DailyFx | Updated August 26, 2014 AAA

DailyFX.com -

Daily

USD/CAD at Risk of Pullback to 1.0800

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.

-Near term trend is higher as long as price is above 1.0800 towards 1.1026/52 (Fibonacci and late April high) but recent action (key reversals and waning momentum) warn of a pullback from nearby.

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

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    More USD Downside Due in Days Ahead?

  2. Forex News

    USD/CAD Technical Analysis: Digesting Losses Above 1.21

  3. Forex News

    USD/CAD Technical Analysis: Downward Momentum Resumes

  4. Forex News

    USD/CAD Has Eyes for 1.1930

  5. Forex News

    USD/CAD Technical Analysis: Bounce Falters Above 1.23

Trading Center