USD/CAD Largest 5 Day Decline Since October 2009
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “a move back into the channel would suggest that trade in recent weeks was some sort of a ‘blow-off’ top.” USD/CAD has traded back into the channel, which suggests that suspicions of a blow-off top were correct. The implication is that USD/CAD has topped and is heading lower.
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