USD/CAD: All the Ratios Have Lined Up

07/29/2015 7:00 am EST

Focus: FOREX

Christopher Terry

Founder and CEO, iMarketsLive

In this video, Christopher Terry, of iMarketsLive.com, takes a technical look at the daily chart for this currency pair as it has formed a Harmonic Butterfly pattern this week and Chris points out the exact ratios for this pattern as well as downside targets to watch.

This week, looking at the daily chart for the USD/CAD, traders can see the Harmonic Butterfly pattern that has formed. There was a nice correction up and then a dip back down, followed by this last multiple-wave drive back up. On a last leg back up—which is important to watch now for a correction—there were sharp moves up, however, now all the ratios have lined up for this butterfly pattern.


By Christopher Terry, Contributor, iMarketsLive.com

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