| USD/CAD Forms Triangle Posted: 28 Jul 2010 09:27 AM PDT  Price action on USD/CAD (a daily chart of which is shown), which has generally been entrenched in an overall sideways consolidation since late 2009, has now formed a large converging triangle pattern consolidation. This pattern suggests a progressive tightening of volatility in the pair over the course of the past several months, which could potentially result in a substantial breakout on high volatility. For more technical analysis on this currency pair, please click here for Wednesday’s (7/28/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
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