USD/CAD is in a triangle
Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.
USD/CAD: there're bearish patterns
Information is not investment advice
There're bearish patterns such a 'High Wave' and a 'Harami', which both have been confirmed. So, it's likely that the market is going to test the 55 Moving Average (1.3346) soon. The subsequent pullback from this line could be a starting point for another advance in the direction of the next resistance at 1.3561. Any bearish pattern near this level will signal that a downward correction is about to start.
Galya Svetlova
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