Another Triangle In The Making?
Story of USDCAD & Its Triangles.
USDCAD fails to form a strong reversal pattern even though it has reached it's 5 month's low and 5 consecutive downtrends.
I would expect this pair would remain bearish in the coming months ahead with a temporary pullback next week.
Another triangle is expected to be formed before continuing its downward momentum.
Sadly, both Democrats and Republicans can't agree on the terms for the 2nd stimulus package and
the relief fund has not been distributed to the public.
Therefore I don't see the Dollar will rise to its high time again anytime soon.
This is a long term idea.
USDCAD fails to form a strong reversal pattern even though it has reached it's 5 month's low and 5 consecutive downtrends.
I would expect this pair would remain bearish in the coming months ahead with a temporary pullback next week.
Another triangle is expected to be formed before continuing its downward momentum.
Sadly, both Democrats and Republicans can't agree on the terms for the 2nd stimulus package and
the relief fund has not been distributed to the public.
Therefore I don't see the Dollar will rise to its high time again anytime soon.
This is a long term idea.
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