SoxKeepYouWarm
Short

USDCAD triangle to downward trend continuation

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             has been in a downward triangle pattern for quite some time. It's made several attempts to breakout but keeps bouncing off fib extension.

If it manages to break that fib line I'm expecting price to drop to old structure low.

This area is lining up with old structure resistance on the daily so this trend might not continue any further than it already has, but I think a double test of structure resistance is bound to be coming.
fer
2 years ago
Still valid?
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SoxKeepYouWarm fer
2 years ago
Price has been following the a downward wedge pattern on the daily, upper bound being the red line. As long as that isn't broken the trend should continue.
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