Yesterday I draw attention to a potential double top for UsdCad. Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after. At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity. In conclusion, I remain strongly bearish UsdCad, and rallies (if they will exist) towards 1.35 should be sold. Neck-line support is now resistance and should offer us a point of negation and the target is 1.33 zone support
1.8000 in the long run. Might go below 1.32 to shake out a bunch of weak hands before the ultimate move higher over the next few years
Mihai_Iacob
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@QueefPlume2112, hihi, i m not looking so far... 1.33 is enough for me, but you could be right. Thanks for input. You could also share a long term chart with your analysis