$USDCAD - Wait for the breakout from flag
Hi guys! 👋🏻
🔔 USDCAD continues the correction after a substantial growth on November 9. The pair is consolidating between $1.30900 and $1.30494.
🔔 On a 4-Hour chart USD/CAD has formed a bullish flag pattern, breakout from which will signal a bullish continuation. And the triangle on RSI is getting smaller and smaller, leaving little space for fluctiation and bullshit.
🔔 The bearishness of Dollar/Canadian is also endorsed by Moving averages, both simple moving averages of 100 and 200 and an Exponential MA 50 are above the current price.
🔔 The US Dollar is still bearish against the Canadina Dollar since March 2020, where there is one scary pattern I'm tracing since then on a monthly chart - double tops.
🔔 Fibonacci levels on a 4-Hour chart demonstrate the importance of the $1.30180 support level. Only when USD/CAD closes above $1.31000 it will proceed further towards $1.32000 and beyond.
🔔 Bullish continuation of the pair may be backed by the strong US data tomorrow.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 USDCAD continues the correction after a substantial growth on November 9. The pair is consolidating between $1.30900 and $1.30494.
🔔 On a 4-Hour chart USD/CAD has formed a bullish flag pattern, breakout from which will signal a bullish continuation. And the triangle on RSI is getting smaller and smaller, leaving little space for fluctiation and bullshit.
🔔 The bearishness of Dollar/Canadian is also endorsed by Moving averages, both simple moving averages of 100 and 200 and an Exponential MA 50 are above the current price.
🔔 The US Dollar is still bearish against the Canadina Dollar since March 2020, where there is one scary pattern I'm tracing since then on a monthly chart - double tops.
🔔 Fibonacci levels on a 4-Hour chart demonstrate the importance of the $1.30180 support level. Only when USD/CAD closes above $1.31000 it will proceed further towards $1.32000 and beyond.
🔔 Bullish continuation of the pair may be backed by the strong US data tomorrow.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Nothing is true, everything is permitted.
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🤖 Get 20% fee cashback on CoinW with this link - coinw.com/frontweb/invitePublicity?r=azizelliott
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.
Nothing is true, everything is permitted.
_________________________________
🤖 Get 20% fee cashback on CoinW with this link - coinw.com/frontweb/invitePublicity?r=azizelliott
_________________________________
🤖 Get 20% fee cashback on CoinW with this link - coinw.com/frontweb/invitePublicity?r=azizelliott
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.