This is just an assumption I make because I assume that what happened in the past in technical analysis is happening again in the present. A technical theory, the "brocast wedge" model was created in usoil. Currently, prices are declining near a trendline that acts as a strong resistance. It would also hint that there is a high tendency for prices to fall in the future. USOIL prices directly affect the Canadian economy. As a result, oil revenues are one of Canada's most important export earnings. If this is the case then maybe your cad is in for a rude awakening.
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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.