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Will 2020 be a Breakout Year for USD/CAD?

With USMCA replacing NAFTA it leaves us to wonder what, if any, impact it could have on USD/CAD price action...

Could 2020 be the beginning of a break out or will price action be more of the same?  Same being somewhat range bound over the last 14-18 months with neither the bulls nor bears really in charge.

We're not in the prediction business, rather we use precise technical analysis to set anticipated price levels and trade off of them if it suits our preferences.  From a higher time frame perspective it appears that price action has been squeezing into a tight little wedge pattern from which a few things could happen.

First, a breakout to the upside could occur. Second, a breakout to the downside could occur.  And third, price could just keep churning sideways as its "breakout".

Regardless, we have price levels in both up and down directions that we'll be watching and trading accordingly.  Whether your style is one of a swing trader, scalper, or "sniper", there's bound to be opportunity to match your preferences on spot Forex or even on Nadex.

What is your plan for USD/CAD?  We'd like to hear from you.

Enjoy your free TOS link for USD/CAD
USD/CAD price chart
June 2020 Update
Well USD/CAD certainly got it's breakout to the upside and we hope you were able to capitalize on it... If not maybe you caught it at the monthly support/resistance line, or caught the recent retest of the trend line...
In any event there have been several opportunities to benefit on this chart as a trader!  If you'd like to boost your trading from access to more charts like these try our chart subscription service free for 7-days.
USD/CAD 2020 breakout


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