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USD/CAD is Vulnerable below 1.0355

Jamie Saettele, CMT


eliottWaves_usd-cad_body_usdcad.png, USD/CAD is Vulnerable below 1.0355

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCAD traded into 1.0355 on Wednesday. That level is significant because it is the 9/13 high, which was a Friday before a gap lower. As long as price is below that level, the market is vulnerable.

-The advance from the 9/19 low began impulsively, but momentum has slowed considerably from the 9/24 low. A test of that level could complete a flat pattern.

Trading Strategy: Flat

LEVELS: 1.0232 1.0264 1.0300 | 1.0355 1.0409 1.0470

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