break out of the 40 year wedge, change in the economy 7-8 year, possible recovery in oil strengthening the CAD and weakening the USD. with forecast support area of 1.2800 thur 1.25000
This is a trend line started from 1972 in the weekly chart. if you go to that chart you will see why i ended up here.Wiith that being said FIB CHANNEL brought us to this. If the indicators hold true, we should see a continuation of the downward trend staying bearish. If oil breaks back up in price we could see a very lengthy bearish run lasting a year or more....
1.4690 down 0.94000 back up to 1.6000 the trend line since 1977 thur 2028 ===50 trend line===12,000 pip prediction, hows that for sticking your neck out. The blue lines are the presidential elections. If history repeats itself that is.
USD/CAD long term Short 9 months and 18 months. My reasons behind it all.
Yes another USD/CAD chart. I have examined this pair 12 ways now. Sticking to my guns.
shorting the CAD for the long term i think would be a safe play.--- if oil levels off or a bit higher--- rate hikes come into play---if the coming recession only plays out in the corporate world instead of the middle class---the USD should weaken enough and the CAD should strengthen remain in a mixed area of 1.28000 thur .1.06000
A lot to take in, examine closely.What is it about 1.1775 and election times?
USD/CAD reasons for the short from 1.4550 The only reason why a break-out would happen now I think would be Oil