Tanalys

USD/CAD Bullish Channel May be Forming

Daily

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

USDCAD gapped lower and traded to its lowest level since 8/9.

-A line parallel to the line off of the March and July highs served as support on Monday. A bullish channel may be forming. The line that extends off of the January and May lows is slightly below the August low.

Trading Strategy: Flat

LEVELS: 1.0245 1.0275 1.0305 | 1.0355 1.0418 1.0470

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