Canadian dollar is building out another bullish flag and the USD continues forming a head and shoulders pattern. See more upside to the CAD. Possible top at .76790 from last week. 78.6% is just a hop, skip and jump from there to complete the Cypher pattern at .77080. If flag does not hold then further downside to .75625 area.
Comment:
Canadian dollar tanked today as the USD made a push to the upside to start the upper part of the head and shoulders. See USD making a further push overnight and into tomorrow as Trumps inauguration grows closer. CAD made the 38.2% retracement, which was close to the .75625 calculation previously.
