USDCAD 2022 will be a very bullish year for the pair
As the title suggests, I expect USDCAD to be bullish for 2022. The reason is the fractal (on this 1W time-frame) from 2017 - 2018 that the pair appears to be replicating.
As you see this market follows strict Support and Resistance levels, easily recognizable on the long-term scale. The Multi-year Market Top of 1.4700 held during the COVID stock-market melt-down of March 2020 and as the 1.2000 level supported on a symmetrical scale, it appears that USDCAD is forming a symmetrical Channel Up to that of 2018. The natural technical target for 2022 is 1.36000.
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As you see this market follows strict Support and Resistance levels, easily recognizable on the long-term scale. The Multi-year Market Top of 1.4700 held during the COVID stock-market melt-down of March 2020 and as the 1.2000 level supported on a symmetrical scale, it appears that USDCAD is forming a symmetrical Channel Up to that of 2018. The natural technical target for 2022 is 1.36000.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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