As we can see a rising wedge is encountered, the price is breaking out.
A rising wedge often results in an extension in the downward direction if price collapses through the support line.
USD/CAD to extend its slide towards 1.381 as minor hurdle remains at 1.382.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Feb 27
A descending channel takes place, USD/CAD requires a strong move to confirm descending channel breakout.
A descending channel predicts a bullish price action in case if price breaks above resistance.
USD/CAD challenges a move to 1.353.
USD/CAD: Pennant
USD/CAD,
1 hour
SHORT
Nov 22
There is a pennant appearing, the price is going to break out.
If price breaks down, the resulting move could identify a further move down.
USD/CAD to continue the dereciation trend towards 1.37 on a breach of 1.3704.
USD/CAD: Rectangle
USD/CAD,
4 hours
LONG
Aug 1
It looks like a rectangle is determined and the price is ready to break out now.
If price breaks out to the the upside, the move could signal a bullish price move.
It is possible that a further rangebound towards 1.328 will form.
USD/CAD: Rising Wedge
USD/CAD,
1 hour
SHORT
Mar 27
The price sets up a rising wedge, the price is close to breaking out now.
When price collapses through the support line, the resulting move could predict price heading to a new direction.
USD/CAD to head to 1.358 on a breakout of the rising wedge.
USD/CAD: Rising Wedge
USD/CAD,
1 hour
SHORT
May 23
A rising wedge is close to being finished, the price is going to break out.
A rising wedge provides a chart pattern that has an upward slope that can be used to signal a bearish price action once price breaks through the support.
USD/CAD hints a change to the downside to 1.349 as upside pressure alleviates.
USD/CAD: Rectangle
USD/CAD,
1 hour
LONG
Nov 16
It looks like a rectangle is recognized.
A rectangle often predicts a bullish move in case if price breaks above resistance.
USD/CAD turns bullish to the 1.372 mark as downside pressure mitigates.
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
Feb 21
There is an ascending channel poping up, the price is ready to break out.
An ascending channel often results in that the price to go short once price breaks out to the the downside.
It is possible that a move to 1.35 will form on a breakdown of the ascending channel as upside pressure alleviates.
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
Mar 26
There is an ascending channel happening.
An ascending channel provides a bearish price action formation that typically indicates a tendency to break in the opposite direction when price breaks out.
Corrective downside to the 1.357 zone is likely to happen once below 1.3576.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Mar 15
A descending channel is determined and the price wants a next active move to confirm a breakout.
In case if price breaks out, the resulting move could predict that the price to go up.
It is not ruled out that a bullish continuation to 1.37 will take place on a breakout of the descending channel.
USD/CAD: Rectangle
USD/CAD,
4 hours
SHORT
Dec 13
As we can see a rectangle is determined.
A rectangle often spots a sharp decline in case if price breakdown occurs.
USD/CAD tests a move towards 1.354 on a breach of 1.355.
USD/CAD: Bullish Rectangle
USD/CAD,
1 hour
LONG
Apr 21
There is a bullish rectangle materializing.
When price breaks through the resistance, the resulting move could predict a bullish move.
USD/CAD is bullish and en route towards the 1.349 level.
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