USD/CAD – Bullish symmetrical triangle breakout
Bullish symmetrical triangle breakout looks like a done deal. What needs to happen now is a daily close above 1.3576 (50% fib retracement of 1.46903-1.2461). That would add credence to the bullish triangle breakout and open doors for 1.38-1.3839 (61.8% fib) levels.
The 50-DMA has nicely bottomed out as well and is now sloping upwards.
The bearish oil price chart also adds credence to the bullish break on the USD/CAD pair.
Only a daily close below 1.3490 would pour cold water over the optimism.
The 50-DMA has nicely bottomed out as well and is now sloping upwards.
The bearish oil price chart also adds credence to the bullish break on the USD/CAD pair.
Only a daily close below 1.3490 would pour cold water over the optimism.
