Sforex
Long

Loonie: YEAR HIGH was broken. how far does it go ?

FX:USDCAD   U.S. Dollar/Canadian Dollar
192 0 2
Yesterday, I said in USDCAD             analysis that USDCAD             will gradually break the wedge pattern and YEAR to test 1.3500, I think this will happen in this week, then It reacted faster than I thought; today it broke the year high and wedge pattern exactly what I expect. The reason simply is contributed by the OIL             decline.

So the question is: how far does it go ?

Simply, this is basic analysis, I remind all traders one thing: YOU DON'T DRAW TOO MUCH THING ON THE CHART, KEEP SIMPLE AS MUCH AS POSSIBLE. I read articles on tradingview, they draw too much and make the chart to be so complicated.

I draw Fib extension to see where USDCAD             will go.

76.4% Fib Extension at 1.3650 is a good level I think USDCAD             will test next trading days.
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