Loonie Dollar possibly aiming high
Alright guys, USDCAD might be heading high, here are my reasons to expect further deterioration of CAD against USD:
1- Inverted head and shoulders pattern spotted
2- We have been long inside the falling wedge (The ABCD triangle) and we are on the brink of breaking out, although we need a daily closing price outside the upper border of the triangle
3- Let's just say that Canada felt the recession worse than USA did
When to buy USDCAD?
I will say it again, wait for the price to break out of the wedge however, we have one confirmation from the head and shoulders but it would be great if we just have another.
What are the targets?
Look at the white horizontal lines, lower one must break to pave way for the higher white line
Best of luck and happy trading :-)
1- Inverted head and shoulders pattern spotted
2- We have been long inside the falling wedge (The ABCD triangle) and we are on the brink of breaking out, although we need a daily closing price outside the upper border of the triangle
3- Let's just say that Canada felt the recession worse than USA did
When to buy USDCAD?
I will say it again, wait for the price to break out of the wedge however, we have one confirmation from the head and shoulders but it would be great if we just have another.
What are the targets?
Look at the white horizontal lines, lower one must break to pave way for the higher white line
Best of luck and happy trading :-)
Trade ativo
Alright guys we have broken out of the wedge
Aviso legal
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.