USD/CAD Drops into Well-Defined Support Zone

| 12 april, 2013 | 0 kommentarer

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Drops into Well-Defined Support Zone

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The USDCAD has dropped into a well-defined support zone from the late January and mid-February highs, 38.2% Fibonacci and confluence of trend / channel lines. Remember, bigger picture trend is sideways as a triangle from the 2011 low is a distinct possibility. That would mean lower prices from here but the path could be choppy since triangles are corrective. It’s not a great environment for trading.

FOREXTrading Strategy: Flat

LEVELS: .9987 1.0018 1.0070 1.0133 1.0180 1.0235

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

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *