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USD/CAD Triangle Resistance Near 1.26

Jamie Saettele, CMT

DailyFX.com -

Daily

USD/CAD Triangle Resistance Near 1.26
USD/CAD Triangle Resistance Near 1.26

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-The contracting range indicates potential for a triangle from the high. Typically, a triangle will lead to a thrust in the direction of the preceding trend. In this case, that is bullish. Don’t be dogmatic though. A break of 1.2350 would open up a parallel as support near 1.2200.


original source

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