USD/CAD Long term bullish thesis
Quarterly chart of USD/CAD. The 1.20 to 1.25 zone is incredibly important. So is 1.40 to 1.45. Also, take a look at this massive multi decade equidistant channel. It respected that channel in 2011. I foresee a move up to test the top end of that channel sometime before the end of the decade.
First it has to test the range it's been in since 2015 and test the 1.40 to 1.45 region. Needs a solid quarterly and yearly break above that resistance zone and possibly come back to test it as support before it ultimately makes it's way up to 1.80 in the coming years.
Side note - All the de-Dollarization doom narratives being parroted over the last few months should be looked at as a massive contrarian indicator. It's unlike anything I have ever seen. Time to get long USD for the long term.
First it has to test the range it's been in since 2015 and test the 1.40 to 1.45 region. Needs a solid quarterly and yearly break above that resistance zone and possibly come back to test it as support before it ultimately makes it's way up to 1.80 in the coming years.
Side note - All the de-Dollarization doom narratives being parroted over the last few months should be looked at as a massive contrarian indicator. It's unlike anything I have ever seen. Time to get long USD for the long term.
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