USD/CAD Not a Double Top…Until it’s a Double Top
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. The pullback raises the specter of a double top but a pattern is not a pattern until it’s completed! In this case, a close below 1.2350 is required to trigger the double top.
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