Bearish Gartley on CADAUD
Although slope of the lower bounds of this chart appears to be increasing, note that the slope of the line connecting the three highs at 9/07, 10/06, and 10/30 is decreasing with somewhat more conviction. The Gartley pattern further supports this assertion, and all the ratios are roughly in line.
The Ichimoku indicator notes some support beginning at 1.0639, and the MACD/RSI combination reflects an optimal time for entry.
Further, the CAD is tightly intertwined with the oil, which will struggle to break past 60/barrel in 2016 as per the Wall Street Journal (see link)
The Ichimoku indicator notes some support beginning at 1.0639, and the MACD/RSI combination reflects an optimal time for entry.
Further, the CAD is tightly intertwined with the oil, which will struggle to break past 60/barrel in 2016 as per the Wall Street Journal (see link)
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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.