U.S. Markets closed

USD/CAD Trading at the Exact Center of its Channel

Jamie Saettele, CMT

DailyFX.com -

Daily

USD/CAD Trading at the Exact Center of its Channel

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


-“USD/CAD cycle considerations are worthy of note. The decline from the 2016 top lasted 74 days. Since that point, the fixed length cycle has identified turns (3 days early on the August 2016 low). The next cycle date was Monday (3/13) but give these cycle dates a window (August low was 3 days after the date for example).” USD/CAD has turned down sharply. The current level is ‘no-man’s land’ but pay attention to the recent highs just above 1.3200 for support.




original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from IG.