USDCAD
USDCAD been in an upward move since May 2021; first in an ascending channel, then and currently oscillating in a triangle pattern. After USDCAD bounced from the lower side and started an upward wave, it stopped below the horizontal resistance area. This horizontal resistance/support area goes way back for couple of years and thus important if price wants to breaks the upper side of triangle. So this area will probably act like a magnet and cause price to oscillate even more. Let's see what happens.
Note
So, USDCAD couldn't breach through the horizontal resistance area and price came down and broke the lowe side of triangle pattern. Have to wait for confirmation, then price can drop much further. Let's see what happens.
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.
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.