The trend is currently bullish. If the cup & handle pattern is confirmed and the black trendline (resistance) in broken to the upside => objective is 1.34228
But, keep in mind that USD/CAD is highly (93%) negatively correlated to oil. Therefore, if oil price goes up, USD/CAD goes down.
But, keep in mind that USD/CAD is highly (93%) negatively correlated to oil. Therefore, if oil price goes up, USD/CAD goes down.
Comment:
Bearish scenario ongoing, because oil went up last days
Order cancelled:
Cup & Handle invalidated
Comment:
Bearish scenario validated