USDCAD Nears Range Low at 9840

Daily Bars

Prepared by Jamie Saettele, CMT

My best guess is that sideways trade in recent months composes a triangle. In this case, the triangle is bearish and a terminal thrust below 9841 would complete a bearish cycle. Until that happens, don’t waste your time looking at the USDCAD. There are better trades out there, including EURCAD and AUDCAD.

Bottom Line (next 5 days) – ?