USDCAD- 25Apr2022
On the daily, USDCAD bounced and closed back above the ascending trendline on the back of strong USD and oil price pulling back but it has yet to confirm further upside. It is currently at Ichimoku + 1st Resistance at 1.27315. If price can confirm above the ascending trendline today, daily triangle target downside will be invalidated.
On the H4, price might have potentially broke above the triangle pattern for further upside target to around 1.28600. However further upside could be limited today as both H4 RSI & Stochastic are at resistance.
Disclaimer: This is for personal work record purposes only, not trade / financial advise or solicitation of trade.
On the daily, USDCAD bounced and closed back above the ascending trendline on the back of strong USD and oil price pulling back but it has yet to confirm further upside. It is currently at Ichimoku + 1st Resistance at 1.27315. If price can confirm above the ascending trendline today, daily triangle target downside will be invalidated.
On the H4, price might have potentially broke above the triangle pattern for further upside target to around 1.28600. However further upside could be limited today as both H4 RSI & Stochastic are at resistance.
Disclaimer: This is for personal work record purposes only, not trade / financial advise or solicitation of trade.