USD/CAD continues to trade in a tightening range as the oil markets have been so back-and-forth. The pair certainly has been tough to trade over the last several weeks, and we now are starting to see a bit of a triangle pattern forming. The symmetric triangle doesn’t suggest which way we are going yet, but it does show us that a move very well could be. Because of this, we are waiting to see a daily close outside of this triangle in order to make a trade. The larger the candle, the more convinced we will be.
Written by FX Empire