USDCAD hourly has bounced up and down within this quite well defined triangle from late August. 10, 20, 50 and 100 MAs are all converging, and the TTM Squeeze indicator ( , and an oscillator) all show the pair is ready for a breakout. Base of the triangle is 300 pips, which gives a target for the first move after the break, whatever the direction.
Will the FOMC stay, raise .25% or raise .50%? I don't want to guess so I will enter this only after that major event has passed.
To the Best of Good Buys.