#USDCAD: Further Downside Likely #forex
Sideways breakout hints a deep correction!
Measured target for the rectangle pattern suggest a retest of the main rising trend line area as the next possible target. I illustrated a potential scenario on chart. Stability back above 1.2480 may negate this scenario
Good luck...
thefxchannel.com/ , visit.. vote and subscribe. Thank you
twitter.com/thefxchannel
My best regards
Technician
- The pair has broken the support of the main rectangle pattern at 1.2370 area.
- The price has broken the short term 50-days SMA
- Breakout below the short term rising trend line
Measured target for the rectangle pattern suggest a retest of the main rising trend line area as the next possible target. I illustrated a potential scenario on chart. Stability back above 1.2480 may negate this scenario
Good luck...
thefxchannel.com/ , visit.. vote and subscribe. Thank you
twitter.com/thefxchannel
My best regards
Technician
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.