Exchange rates

USDCAD

Real-time Estimate TTMZero 09:05:39 2024-04-23 am EDT			5-day change	1st Jan Change
1.37 ^CAD	-0.02%		-0.64%	+3.43%

02:09pm	SocGen's Tuesday Outlook for Currencies, Bonds, Macroeconomics, Policy Events	MT
02:02pm	Corrected : Could the 10-Year Treasury Yield Go Back Up To 5%?	DJ

USD/CAD Jammed Between Trendline and a Former Pivot (1.1384)

November 20, 2014 at 01:50 pm EST

DailyFX.com -

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USD/CAD Jammed Between Trendline and a Former Pivot (1.1384)

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.”

-“Trade since the March high is forming a sequence of continuation patterns (of the head and shoulders variety). Look higher as long as above 1.1070. A breakout could reach 1.17-1.1875 (July 2009 high and 2007 high).” USDCAD is at channel support now. If the trend is still higher, then the rate should hold channel support. Failure to do so would warn that behavior has changed.

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

original source

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