USDCAD Bearish Triangle Break
240 Minute Bars
Prepared by Jamie Saettele, CMT
“Recent consolidation may be a triangle.” Today’s USDCAD decline is the best evidence yet for a near term bearish USD outlook. Expectations are for an extension of weakness (albeit in a terminal thrust) towards the 8/31 low at 9725. 9900 is now resistance.
Bottom Line (next 5 days) – down
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