Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–USDCAD formed an outside week last week. In fact, last week’s price range engulfs the prior 3 week’s price range and takes out the prior 6 week’s highs. The market has responded well to long term trendline support.
-The current rally has reached channel resistance (upward) along with the key reversal close from 8/23 (1.0495).
Trading Strategy: Wanted 1.0420 order triggered before the run above 1.0470. Sitting tight for now.
LEVELS: 1.0390 1.0418 1.0440 | 1.0495 1.0547 1.0608