USDCAD is forming a triangle

The US dollar is still going sideways against the Canadian dollar, without making new lows or new highs, which suggests that USDCAD is forming a triangle. The chart below puts us in mind that wave (D) of the pattern is still developing. If this is the correct count, we should expect a decline in wave (E), before the uptrend takes off again.

usdcad 16.3.14

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