16 Sep 2015

USD/CAD BREAKOUT INEVIDABLE

USD/CAD H4

The rate has been stuck in a deep consolidation mode since July, but as we are seing the pattern contracting the coming breakout is enevidable and soon.

My bias is higher, while, probably the further direction is going to be set by tomorrow's Fed rate decision.

A daily close above 1.3300 is needed to confirm the resupmtion of the broader downtrend, however, a break below 1.3180 would be indicating a deeper retracement lower.







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