USDCAD is now presenting us with yet another beautiful work of art pointing to the downside. The news about the interest rate hike from the BOC short the usdcad up.. right into the holy grail of the 618 fib, and the 1.28000 monthly resistance. It may go higher but it won't go higher than 1.28666.. or 1.29 on the safe side. Either way this pair is going to continue...
USDCAD is definitely still on its way down still despite the news events of the interest rates. Brilliant sell opportunity . Its shot up due to that purely and had retraced right into the Holy grail of the .618 fib. This doesn't mean that it can't still reach the .786 fib but, in conjunction with the downward CTL, and the monthly resistance, of 1.28000 lining up...
