USD/CAD coiled into ascending triangle. Breakout & re-test?
Oil prices seeped to their lowest level in over 6 years, breaking swing lows as oversupply was confirmed as not being abated any time soon. OPEC meetings ended with no resolution on production cuts and lacked any reference to output ceilings which was the big kicker in sending Oil to new lows.
The CAD fell 1.2%, sending USD/CAD spurting higher to its highest level since 2004.
The CAD fell 1.2%, sending USD/CAD spurting higher to its highest level since 2004.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.