Analyzing USDCAD on a weekly we may spot a classic bullish accumulation pattern:
after setting a new lower low around 1.2 structure, the price bounced.
The market started to coil setting two higher lows in a row respecting one horizontal supply area.
Now the price is approaching that structure again.
Its bullish breakout (weekly candle close above) may trigger a strong bullish rally all the way up to 1.33 level.
Be prepared!
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.