USD/CAD – New High but More Here than Meets the Eye
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.” USD/CAD is pressing into a long term parallel, which has been a pivot since October 2015. This is a big decision point for Loonie.
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