USDCAD: Triangle Pattern Points to Gains
Strategy: Pending Long
USDCAD is forming a symmetrical Triangle continuation pattern, which in this case argues for a bullish bias. With that said, confirmation is needed on a break above triangle resistance (now at 0.9912), as the pattern has in some cases marked a reversal. We will stay on the sidelines for now but monitor positioning closely for a long entry opportunity.
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