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USD/CAD Retraces the Entire Daily Bullish Channel Rally

From vantagefx.com

Good morning, USD traders have been riding the Janet Yellen wave, with the USDX consistently getting clobbered day after day since peaking at the turn of the new year. Nowhere has this broad USD weakness been felt more than in USD/CAD. Just take a look at the daily chart below. That bullish channel was looking SO good for so long too… But as we know in trading, all good things must come to an end, and when that channel broke, boy has that end been a reality check for the US Dollar! Price has dropped all the way down to now settle at the horizontal level that formed the very beginning of the channel. Yep, a full 100% ... (full story)

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  • Category: Technical Analysis