USD/CAD Bullish Outside Day at Range Lows; Triangle Still Favored
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The contracting range indicates potential for a triangle from the high. Typically, a triangle will lead to a thrust in the direction of the preceding trend. In this case, that is bullish. Don’t be dogmatic though. A break of 1.2350 would open up a parallel as support near 1.2200.