USA/CAD Bullish on monthly Charts
Bullish Continuation Pattern
I ( and my school of thoughts) don't believe in patterns for historical precedents but let me share my study on USD/CAD pair:
Tested old highs of 2004/MAY/3, it is likely to incur selling pressure from previous bought levels. This likely to make price consolidate with a tendency toward a downtrend trend for a period up to four weeks, before advancing higher.
I ( and my school of thoughts) don't believe in patterns for historical precedents but let me share my study on USD/CAD pair:
- Uptrend on Monthly TimeFrames.
- Uptrend on Weekly TimeFrames.
- Uptrend on Daily TimeFrames.
- Uptrend confirmed by EMA20 & 50 period on monthly,weekly and daily.
- Trade on Higher Time frame H4(240)
- DXY below 100
Tested old highs of 2004/MAY/3, it is likely to incur selling pressure from previous bought levels. This likely to make price consolidate with a tendency toward a downtrend trend for a period up to four weeks, before advancing higher.
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.