USD/CAD: a massive pump incoming?
After a consecutive streak of printing numerous wick candles, we can finally observe the price attempting to impulse towards the upside. As highlighted on the chart, drawing two diagonals, a triangle pattern can be identified.
Now that we can see some signs of a breakout from the formed triangle, we are more or less confident that the region marked on the chart as the “next target” can be reached.
Nevertheless, the FOMC minutes due tonight are to be followed too as, if we want the analysis to play out in accordance with the plan, we should expect hawkish USD.
Now that we can see some signs of a breakout from the formed triangle, we are more or less confident that the region marked on the chart as the “next target” can be reached.
Nevertheless, the FOMC minutes due tonight are to be followed too as, if we want the analysis to play out in accordance with the plan, we should expect hawkish USD.
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