Prepared by Jamie Saettele, CMT
When the market lulls you to sleep, drink some coffee and look at long term charts. Application of that exercise to the USDCAD reveals a potentially powerful long term bullish base. Still, 10050 remains the near term pivot. As long as price is below that level, we cannot rule out a thrust from a bearish triangle towards 9725.
Bottom Line (next 5 days) – ?