USD/CAD Holds 1.3000 - Bigger Wedge from May Low?
Chart Prepared by Jamie Saettele, CMT
-I wrote last update that “the tight ‘coil’ could serve as the launch point for another run higher but be aware of a long term parallel that could induce failure near 1.3370.” Instead, USD/CAD failed immediately. Pattern since the May low is unclear but could end up as a large wedge (diagonal triangle). Watch the May-August trendline.