USDCAD triangle to downward trend continuation
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.
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.