The sideways consolidation in USDCAD could very well be over as there are 5 waves (a-b-c-d-e) in the sideways move we are witnessing for the last month. The triangle pattern is a typical corrective pattern after such a big rally from 1.13. The upper triangle pattern boundaries are found at 1.2610 while the lower boundaries are at 1.2390.
Trading2day subscribers have seen my trade and go long this pair since 1.2426 when we were at the final stages of wave e down. My projection now sees we could reach 1.29-130 once we break above the triangle resistance at 1.2610.
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