USD/CAD - Triangle Breakout - Weekly Forecast
The USD/CAD pair on the H8 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming Days.
Possible Short Trade:
Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.3650.
Target Levels:
1st Support – 1.3465
2nd Support – 1.3364
Stop-Loss: To manage risk, place a stop-loss order above 1.3800. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
Possible Short Trade:
Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.3650.
Target Levels:
1st Support – 1.3465
2nd Support – 1.3364
Stop-Loss: To manage risk, place a stop-loss order above 1.3800. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
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