The trend is currently bullish. If the cup & handle pattern is confirmed and the black trendline (resistance) in broken to the upside => objective is 1.34228
But, keep in mind that USD/CAD is highly (93%) negatively correlated to oil. Therefore, if oil price goes up, USD/CAD goes down.
But, keep in mind that USD/CAD is highly (93%) negatively correlated to oil. Therefore, if oil price goes up, USD/CAD goes down.
Note
Bearish scenario ongoing, because oil went up last daysOrder cancelled
Cup & Handle invalidatedNote
Bearish scenario validated
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.