Since mid-January 2017 USDCAD is moving inside a growth channel. Investors trading on this pair apparently like this chart layout, because similar in-channel move took place in 2016. From May to December 2016, price respected borders of the channel breaking out only in January 2017.
YOU CAN START TRADING ON FOREX MARKET USING FREE Windsor Brokers ACCOUNT
Opportunity for a new growth impulse
At the beginning of last month price tested upper limit (resistance) of the channel and the 15-month high at 1.3793. This resulted in bearish response that led to lower channel band (support) test. Bulls are supported by level 1.3440 and it is now quite likely that this support combined with lower channel limit will trigger a new upward impulse towards the upper channel limitation.
