$USDCAD is trading inside a Triangle formation shown in the chart with blue dashed lines.
It already retraced 61.8% from previous pick, pulled back and rallied back up, now touching the 50%, structure resistance zone and the downtrend line of the Triangle.
The support elements we see are the 2 SMA lines (fast and 50) and the 1.23 minor structure zone (of course also the uptrend of the Triangle).
If it will rally up, it can complete a bearish Gartley.
If it will breakdown the Triangle formation, it will probably reach the 200 SMA line
It already retraced 61.8% from previous pick, pulled back and rallied back up, now touching the 50%, structure resistance zone and the downtrend line of the Triangle.
The support elements we see are the 2 SMA lines (fast and 50) and the 1.23 minor structure zone (of course also the uptrend of the Triangle).
If it will rally up, it can complete a bearish Gartley.
If it will breakdown the Triangle formation, it will probably reach the 200 SMA line