USD/CAD Bearish Outside Day Following the Gap Fill
Chart Prepared by Jamie Saettele, CMT
-The trend has been higher since the May lows but the overlapping nature of the advance warns that the entire move is corrective (wedge aka diagonal triangle). The May-August trendline, which held earlier this month, is the trigger line for a pattern breakdown. The late March high at 1.3296 has been tested twice in the last 5 trading days with today’s test also filling last Friday’s previously uncovered close (weekend gap).
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