USDCAD is breaking higherÂ
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USDCAD is breaking higher from a strong ascending triangle long-term formation. 1.2950 is the long-term uptrend line resistance being tested again after the series of higher lows on the monthly chart. A break above this level could lead to an accelerated reversal higher for a 1.3650 test.
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The weekly chart reveals a falling trend line being challenged, along with 1.2950 ascending triangle resistance which was previously tested at least four times. This time price action is squeezed and is looking for a big breakout higher which would take the pair higher in the third wave targeting 1.4000.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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