DailyFX.com -

Daily

USD/CAD Slipping into Support Zone

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 (down to 1.0850) 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.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Dollar Forecast Improves, Indicator Shows it May Rally Across the Board

  2. Forex News

    USDOLLAR Index Consolidates in Bull Flag Post-FOMC

  3. Investing

    USD/CAD Finds Support During Wednesday Session

  4. Forex News

    USD/CAD Technical Analysis: Pullback Stalls at Support

  5. Forex News

    Fed Doesn’t Relieve Anxiety, GDP Will Take Shot at Dollar and Equities

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!