The USD/CAD pair is currently in a rising wedge formation.
It has formed two strong bearish impulse candles back to back, bringing it to the supportive trend line.
Hence we expect the pair to break the trend line and initiating a short trade once the trend line is broken is a low risk high reward setup.
It has formed two strong bearish impulse candles back to back, bringing it to the supportive trend line.
Hence we expect the pair to break the trend line and initiating a short trade once the trend line is broken is a low risk high reward setup.
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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.