USDCAD: Completing the Symmetrical Triangle, Ready for Breakout?

22 באפר׳ 2023

Here's a Free Technical Analysis on the USDCAD!

Price Action Analysis
On the Daily Timerame, U.S. Dollar / Canadian Dollar has moved above the EMA200, indicating a bullish trend. Simultaneously, The chart forms a symmetrical triangle pattern, usually a sign of trend continuation. The MACD Indicator/Histogram turns positive, signaling a possible bullish bias ahead. If there's a breakout of the symmetrical in the future, USDCAD may reach the second target (Fibonacci Ratio Area).

The roadmap will be invalid after reaching the target/support area.

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"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the USD/CAD"

28 באפר׳ 2023

הערה

USDollar Breakout, Otw First target

14 במאי 2023

הערה

The Markets aren't going anywhere in many instruments, including this pair. Still waiting for the right momentum and trend to come again :)