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USD/CAD Triangle Breakout Failure

USD/CAD Triangle Breakout Failure

2016-07-12 19:51:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Triangle Breakout Failure

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/CAD may be forming a head and shoulders top from the 2015 high with the right shoulder as a triangle. However, upside acceleration is also possible (consolidation could break either way), especially considering the response from 1.2830s. Moves off of this price produced 2 trending moves in 2015.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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