USDCAD Multiple Time Frame Analysis

Following accumulation between 2007 to 2013 we have popped to the 2016 highs of 1.463 where we met resistance at a significant level.

PA then dropped to back-test the 1.21847 to 1.25890 area.

USDCAD 12-month time frame

Natural progression would suggest we rally back up to test 1.43210 and assuming continued bullish momentum, break through on the second attempt.

There is still a long way to go however, and current price action is unclear on the higher time frames.

USDCAD 3-month time frame

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