Bullish Signals on USD/CAD
US Dollar Dominance seems to be back again
With cryptos having a tough time lately, it seems just apt to look at how US dollar is doing.
DXY seems to have formed a double bottom
USD/CAD seems to have formed an inverse head and shoulders pattern with neckline at around current level ($1.28), purple lines
Arguably, current area pattern is an ascending triangle, a bullish pattern, blue lines
MACD about to cross up
Looking at 1.34ish as initial target, then 1.40ish
Market seems to be risk-averse these days.
Stay safe!
With cryptos having a tough time lately, it seems just apt to look at how US dollar is doing.
DXY seems to have formed a double bottom
USD/CAD seems to have formed an inverse head and shoulders pattern with neckline at around current level ($1.28), purple lines
Arguably, current area pattern is an ascending triangle, a bullish pattern, blue lines
MACD about to cross up
Looking at 1.34ish as initial target, then 1.40ish
Market seems to be risk-averse these days.
Stay safe!
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