USDCAD Takes out Prior 7 Days’ Highs
Prepared by Jamie Saettele, CMT
“Recent consolidation may be a triangle.” Today’s spike may have completed the triangle. 10050 is the pivot (below is bearish and above is bullish). Expectations remain for an extension of weakness (albeit in a terminal thrust) towards the 8/31 low at 9725.
Bottom Line (next 5 days) – down
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.