Advertisement
Australia markets closed

  • ALL ORDS

    7,817.40
    -81.50 (-1.03%)
     

  • ASX 200

    7,567.30
    -74.80 (-0.98%)
     

  • AUD/USD

    0.6425
    -0.0001 (-0.01%)
     

  • OIL

    83.41
    +0.68 (+0.82%)
     

  • GOLD

    2,412.60
    +14.60 (+0.61%)
     

  • Bitcoin AUD

    100,058.70
    +1,267.59 (+1.28%)
     

  • CMC Crypto 200

    1,378.01
    +65.39 (+4.99%)
     

  • AUD/EUR

    0.6026
    -0.0004 (-0.07%)
     

  • AUD/NZD

    1.0898
    +0.0024 (+0.22%)
     

  • NZX 50

    11,796.21
    -39.83 (-0.34%)
     

  • NASDAQ

    17,162.16
    -232.16 (-1.33%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • Dow Jones

    38,037.13
    +261.75 (+0.69%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

USD/CAD Holds 1.3000 - Bigger Wedge from May Low?

Jamie Saettele, CMT

DailyFX.com -

Daily

USD/CAD Holds 1.3000 - Bigger Wedge from May Low?
USD/CAD Holds 1.3000 - Bigger Wedge from May Low?

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I wrote last update that “the tight ‘coil’ could serve as the launch point for another run higher but be aware of a long term parallel that could induce failure near 1.3370.” Instead, USD/CAD failed immediately. Pattern since the May low is unclear but could end up as a large wedge (diagonal triangle). Watch the May-August trendline.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk


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 FXCM.