EliteTrader101

UCAD Big Picture prediction

Long
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
There is a cup and handle pattern formed during the past couple of years that should take it up to 1.50 area, but there is also a multidecade cup and handle that could take prices up to 1.8. The weekly chart shows a false break of a triangle to form a W and is now about to breakout to the upside of the triangle to begin the trend. There will be a short squeeze once price breaks above the triangle causing prices to spike like it did the past two times
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.