Loonie: YEAR HIGH was broken. how far does it go ?
Yesterday, I said in USDCAD analysis that USDCAD will gradually break the wedge pattern and YEAR to test 1.3500, I think this will happen in this week, then It reacted faster than I thought; today it broke the year high and wedge pattern exactly what I expect. The reason simply is contributed by the OIL decline.
So the question is: how far does it go ?
Simply, this is basic analysis, I remind all traders one thing: YOU DON'T DRAW TOO MUCH THING ON THE CHART, KEEP SIMPLE AS MUCH AS POSSIBLE. I read articles on tradingview, they draw too much and make the chart to be so complicated.
I draw Fib extension to see where USDCAD will go.
76.4% Fib Extension at 1.3650 is a good level I think USDCAD will test next trading days.
So the question is: how far does it go ?
Simply, this is basic analysis, I remind all traders one thing: YOU DON'T DRAW TOO MUCH THING ON THE CHART, KEEP SIMPLE AS MUCH AS POSSIBLE. I read articles on tradingview, they draw too much and make the chart to be so complicated.
I draw Fib extension to see where USDCAD will go.
76.4% Fib Extension at 1.3650 is a good level I think USDCAD will test next trading days.
