For this particular pair, we see a bounce off the support zone unto a bullish move retesting a major Fib level hence consolidating forming an ascending triangle chart pattern, we expect a breakout to the bullish side.
This pair is expected to dive after the breakout of the ascending triangle chart pattern formation and multiple retest at the resistance, to learn more on this feel free to follow us and send us a message to learn more.
We expect a major trend reversal from the swing low of this pair, as seen through price action analysis and the MACD cross and for a more conservative entry we await a signal bar and good follow through bar.
Updating our previous neutral position on the pair ,we awaited a breakout of the ascending triangle formation and with a good breakout, confirmation on the alligator and good follow through on the candlestick... A good entry point would be on the current pullback in the mini zone highlighted. Note; this information is solely for education purposes as we would not...
The USDCAD is currently ranging in a zone,with an ascending triangle continuation pattern. The pair usually should go long but await breakthrough in both directions to enter
With a double bottom formation,showing price rejection from support the pair looks to be in for a strong bull trend,this was also confirmed with the alligator
A very reasonable way to bag a couple pips on a monday morning, as the pair looks to be experiencing its second leg down in which entering on a pullback would secure more profit.
