themarketzone

Longer term analysis suggests huge rally over the coming years

FX:USDCAD   U.S. Dollar/Canadian Dollar
Are we heading towards a completion of a monthly Bat in $USDCAD?
Wow if this is the case many traders gonna lose cause I have seen many thinking it is short time approaching previous resistance level.
+1 Reply
themarketzone PRO nawras.elghorani
One clarification. $USDCAD has reached a crucial resistance and I've sent to the members shorting setup (earned 300 pips last week shorting $usdcad). I'm talking about a longer term analysis. $USDCAD can have a correction move all the way to 1.0 and still this analysis will be valid.
Now there's no reason to buy USDCAD... but after a pullback, I think so
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I don't think that the next Canadian government which will,probably be more capable is going to let that happen and the oil prices will go up again before the end of this year which means everything for Canada. Beside the USD will probably blow soon or it's going to kill the US exports.
+1 Reply
themarketzone PRO pascalde-aguiar
See my comment above. I agree. My title says "coming years" .. not short term
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pascalde-aguiar themarketzone
Yes it's true and I find it very interesting ! In fact that chart reminds me of the daily EURUSD back in the fall 2012. I'll definitely keep this bat in mind.
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