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USD/CAD Triangle Breakout Failure

USD/CAD Triangle Breakout Failure

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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