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USD/CAD: Double Bottom Pattern
The US dollar initially rally during the trading session on Wednesday, and quite frankly did not bother looking back against the Canadian dollar. We are in the midst of trying to form some type of larger “double bottom”, so it’ll be interesting to see how this plays out from here. The FOMC Meeting Minutes are going to come and go late in the session, but quite frankly the Federal Reserve has made its intentions fairly obvious as of late, so it’s likely that it won’t be a mover. There is what I believe is a massive level underneath near the 1.3550 level, and that is the bottom of the “double bottom” that ... (full story)
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