NeeteshJain

USDCAD - Ascending Triangle Breakout

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
It is been observed that the price action is ranging Ascending Triangle after the successful breakout from the downward trendline. Currently, the price action is stating a resistance level at 1.3210 which is been broken as the price action breaks and close above it on a weekly chart. It indicates buyers dominance and control over price action as it may further take the price levels higher.

Targets have been measured as per the triangle rules and Fibonacci

Target: 1.3800
Stoploss: 1.2995

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