USD/CAD Breakout is Valid as Long as Above 1.2615
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.” Triangle targets are 1.3074 and 1.3245. If the path is still higher, then price should stay above the most recent pivot low at 1.2616. Failure to so would indicate potential for at least a broader period of ranging.
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