Forex Trading: USD.CAD headed higher?

by Joe Oliver, Forex Trading-Pips

Forex Trading: USD.CAD is breaking out of the recent wedge formation. A re-test of parity is likely.

Forex Trading, USD.CAD daily bars

Forex Trading, USD.CAD daily bars

 

 

 

 

 

 

 

 

USD.CAD has been in a weekly squeeze for the past three months. Moving averages are turning up, a close above parity should see decent gains for USD as shorts are squeezed out of the market.

Forex Trading, USD.CAD weekly bars

Forex Trading, USD.CAD weekly bars