USDCAD RISING WEDGE
USDCAD has formed a Rising Wedge on its daily chart.
The price is trading below the EL: 1.35629 and below the Pivot5 Rising Wedge Floor.
The price on the Wed 4rd '23 has formed a (MSH) Market structure Hight taking the previous lows signaling a Short outcome for the pair.
Also the price on the Friday 6th Jan '23 session has supported the idea taking new lows.
Target1:
62%: 1.30121
79%: 1.29525
Target2:
127%: 1.27895
162%: 1.26685
The price is trading below the EL: 1.35629 and below the Pivot5 Rising Wedge Floor.
The price on the Wed 4rd '23 has formed a (MSH) Market structure Hight taking the previous lows signaling a Short outcome for the pair.
Also the price on the Friday 6th Jan '23 session has supported the idea taking new lows.
Target1:
62%: 1.30121
79%: 1.29525
Target2:
127%: 1.27895
162%: 1.26685
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After 2 Days of consolidation the price broke lower
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UC finds resistances 1.34336
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USDCAD Rejected the 1.34336 resistance.
the price should have next stop 100%: 1.32259
the price should have next stop 100%: 1.32259
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