A rectangle is almost finished and USD/CAD wants a more move for clear breakout confirmation.
A rectangle typically identifies the bears have run out of steam once price breaks out.
USD/CAD challenges a move towards the 1.365 mark on a breach of 1.36 as indicators favor bulls.
USD/CAD: Bullish Rectangle
USD/CAD,
1 hour
LONG
Apr 12
As we can see a bullish rectangle materializes, the price requires a further steady bullish impulse as proof of a breakout.
A bullish rectangle denotes a compelling price action indicator that can be used to indicate that the price will rally further if price breaks out.
There is a chance of a bullish move towards the 1.373 level.
USD/CAD: Falling Wedge
USD/CAD,
4 hours
LONG
Apr 3
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
Mar 6
We can see that an ascending channel is very close to being completed and USD/CAD expects a more strong bearish move as an information of a breakout.
An ascending channel tends to be a bearish chart formation that has an upward slope that often indicates a next move down once price breaks down.
It is likely that a bearish price action towards the 1.357 zone will be made as outlook for USD/CAD stays negative.
USD/CAD: Rectangle
USD/CAD,
1 hour
SHORT
Dec 21
A rectangle develops and the price expects a next bigger move for the certainty of breakout.
A rectangle is said to depict a technical pattern that often signals the more likely potential of falling prices once price breaks through the support.
It is not ruled out that a further bearish push down towards 1.331 will occur.
USD/CAD: Pennant
USD/CAD,
1 hour
SHORT
Mar 20
As we can see a pennant has been noticed and the price is breaking out.
If price breaks out, the resulting move could identify that the price to go short.
There is a possibility of a further move towards 1.357 once below 1.3582.
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
May 31
As we can see the price builds an ascending channel and the price needs a more steady move as proof of a breakout.
An ascending channel spots a break in the price direction once price breaks down.
USD/CAD tests a move towards the 1.356 mark as indicators turn bearish.
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
Sep 8
As we can see an ascending channel is close to being completed, the price is ready to break out.
An ascending channel is said to depict a reliable pattern that typically indicates a pause in an uptrending market if price breaks out.
USD/CAD to head towards 1.364 on a downside break as minor hurdle remains at 1.366.
USD/CAD: Descending Triangle
USD/CAD,
1 hour
LONG
Apr 25
We can see that a descending triangle is observed and the price asks for a further move as a clue of a breakout.
A descending triangle denotes a useful chart formation that is used to signal that the price to go up in case if price breaks out.
USD/CAD risks a move to the 1.355 zone on a break above 1.3538.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Feb 13
There is a descending channel occuring, the price is ready to break out.
A descending channel typically signals a bullish price action in case if price breaks out to the the upside.
USD/CAD to maintain its positive tone to the 1.347 zone on a breakout of the descending channel as USD/CAD is at a brink of a bullish breakout.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Nov 22
A descending channel has been distinguished.
A descending channel tends to be a specific chart pattern that is angled down that is used to spot the bears have run out of steam when price breaks through the resistance.
There is a possibility of a further bullish run to 1.371 as there is a chance for a upside correction.
USD/CAD: Descending Triangle
USD/CAD,
1 hour
LONG
Feb 27
It seems like USD/CAD establishes a descending triangle, the price needs a bit more consolidation as an indication of a breakout.
A descending triangle provides a bullish signal that results in a next move up when price breaks out.
It is possible that a bullish run towards the 1.352 level will be made as USD/CAD challenges 1.3512 hurdle.
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