USD/CAD Continuing to Hold Up after 9/19 Reversal

| 1 oktober, 2013 | 0 kommentarer

Daily

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Continuing to Hold Up after 9/19 Reversal

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

USDCAD made a key reversal on a larger than average range on 9/19. 9/20 follow through confirms the tradeable low.

-More important, the reversal occurs at a huge support level defined by the line that extends off of the September 2012 and January 2013 lows as well as the 100% extension of the decline from the July high (2 equal legs) AND corrective channel support.

-The reversal occurred on heavy volume (20 day high in CME volume).

Trading Strategy: Order to go long at 1.0267 just won’t get hit! Going in at market (current 1.0320) with a 1.0250 stop. Targeting half at 1.0415.

LEVELS: 1.0232 1.0264 1.0300 | 1.0355 1.0409 1.0470

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

E-postadressen publiceras inte. Obligatoriska fält är märkta *