The USDCAD has flashed a technical confluence around the median of the short-term pitchfork, the 78.6% Fib level and the lower line of the longer-term pitchfork. If this low holds we could see this pair rally to 1.33800 which is the median line of the long-term pitchfork with the next target of 1.35300 which is the secondary line of the long-term pitchfork.
We will be waiting for a close above the short-term pitchfork before initiating a position. Our stop will be just below the September 18th low.
We will be waiting for a close above the short-term pitchfork before initiating a position. Our stop will be just below the September 18th low.