FxWirePro: USD/CAD hits 12-1/2 year highs amid healthy Bull Run - no respite for bears yet

From last two weeks USD/CAD looked like bulls halted at 1.3965-1.3815 range but it has recouped two weeks gains within 4 trading days of new year.

We kept reiterating quite often no to buck the trend in our recent posts also since we have all considerable signs of healthy bull trend.

Both on weekly and monthly graphs, the uptrend moving in rising channel on the verge of extending saucer pattern and currently hanging at strong resistance of 1.4109 zones, no trace of booming fundamentals also that could cushion CAD's loses on the contrary.

So believe bears have lost complete control over this pair though leading oscillators reached overbought zone (we still see bullish convergence).

The pair on EOD chart as well has spiked up to hit 12-1/2 years highs of 1.4156 levels in an attempt of breaching channel resistance.

Positive convergence between leading oscillators, price and volumes would be taking bullish momentum to spike off to reach Mars and Venus.

Prices on all time frames spiked way beyond 21DMA curve that could signify the ongoing bull trend to prevail further.