So guys, when you hear someone talking about patterns that repeat itself, this is usually what they mean. Can you see that similarity between those two cycles? Sure you do :)
I am expecting this last leg to end at the TL and the 1,414 to 1,618 Fib extension area.
Yeah till 2018 it should topped and then slope to the 75-80 area again (with some crysis in background). Maybe if it will be large crisis we will under 70 (cause always it has lower lows and lower highs per pattern).
helper140
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Abozahra , if my observation of your chart is correct , then we will see a pullback in the USD before it heads much higher again. Since I trade the USD/CAD , the OPEC cuts in production have completely negated the good news about the US economy recently. Thus , I am thinking that the CAD will strengthen in to January. What do you think ? Thank you for this chart , very much appreciated .
PA-FX
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@helper140, Hi, thanks for your support! Yeah the CAD is definitively getting in better shape and with the non OPEC accepting to cut production too. Well we have to wait to Wednesday and see how the FOMC will do and what is their view for 2017.