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USDCAD: Keep an Eye on These Two Channels
While markets are slow, it seems a good time to discuss the broader technical landscape for USDCAD. It’s a pair that hasn’t done much lately. The price action on the daily time frame is less than favorable. And even if you do identify an opportunity, the back an forth movement will make it incredibly difficult to stay in a trade. However, the weekly time frame shows something much more interesting. We have two multi-year channels in play. The first is a descending channel that has played a role since 2016. The second is a smaller ascending channel that commenced at the end of 2017 and developed further throughout ... (full story)