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larry47
Jan 1, 2019 9:25 PM

Beginning 2019: USDCAD Near Reversal Short

U.S. Dollar/Canadian DollarFXCM

Description

Looking at weekly, USDCAD's choppy rising channel since Sep 2017 is showing signs of losing steam.

The reversal should happen below 1.38 level (previous significant high), otherwise the pattern is invalidated.


This is a trade with great risk & reward profile.

Comment

USDCAD plunges over the past week. This is only the very beginning. Expect 1 USD = 1 CAD parity by 2020.
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