Analysis of #USDCAD
The USDCAD might have reached its top, and now in the process of shifting trends, we could have a very valid sell setup
as you can see the USDCAD broke out of the wedge pattern and now trading below its trendline support, which now become a trendline resistance.
the market retested the trendline and now moving lower, if the daily candle closed below 1.3700 today, we have a confirmation, and this is a valid breakout if the market retreated and closes above 1.37500, this is a fake break, and better wait for better confirmation
Thanks for your continued support!
The USDCAD might have reached its top, and now in the process of shifting trends, we could have a very valid sell setup
as you can see the USDCAD broke out of the wedge pattern and now trading below its trendline support, which now become a trendline resistance.
the market retested the trendline and now moving lower, if the daily candle closed below 1.3700 today, we have a confirmation, and this is a valid breakout if the market retreated and closes above 1.37500, this is a fake break, and better wait for better confirmation
Thanks for your continued support!
