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.
USD/CAD: Bullish Flag
USD/CAD,
1 hour
LONG
Feb 27
We can see that a bullish flag happens, the price is about to break out soon.
A bullish flag suggests a compelling bullish price pattern that results in that the price to go long in case if price breaks out to the the upside.
It is likely that a rangebound towards 1.351 will occur.
USD/CAD: Pennant
USD/CAD,
4 hours
LONG
Jul 5
There is a pennant uncovered and the price is close to breaking out soon.
A pennant suggests a reliable indicator that is used to identify a further move up in case if price breaks above resistance.
It is not ruled out that a bullish push up towards 1.326 will form on a breakout of the pennant.
USD/CAD: Ascending Channel
USD/CAD,
4 hours
SHORT
May 30
USD/CAD gives an ascending channel and the price is ready to break out.
An ascending channel is a bearish price formation that can be used to predict an upward trend is about to reverse into an downward trend when price collapses through the support line.
A move towards 1.355 is on the cards once below 1.358.
USD/CAD: Rising Wedge
USD/CAD,
1 hour
SHORT
May 22
There is a rising wedge arising, the price asks for a bigger move as a sign of a breakdown.
If price breakdown occurs, the move could identify a breakdown is likely to occur.
It is not ruled out that a further bearish move towards 1.35 will happen as there is a chance of further weakness.
USD/CAD: Rectangle
USD/CAD,
1 day
LONG
Feb 6
It looks like a rectangle has been identified, the price is breaking out.
A rectangle tends to be a price formation that typically spots a bullish price move when price breaks above resistance.
USD/CAD tests a move towards the 1.36 zone.
USD/CAD: Descending Triangle
USD/CAD,
4 hours
LONG
Mar 6
There is a descending triangle detected, the price asks for a next active move for clear breakout confirmation.
If price breaks above resistance, the move could identify a downward trend is nearing its end.
A move to 1.364 looks likely.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Nov 16
The price shapes a descending channel.
A descending channel is believed to be a price action signal that often indicates a downward trend is nearing its end once price breaks out.
USD/CAD hints a change to the upside to the 1.369 zone as bulls lurking in demand zone.
USD/CAD: Pennant
USD/CAD,
1 hour
LONG
Feb 20
A pennant has been distinguished, the price is ready to break out soon.
A pennant identifies a chart pattern that spots a bullish price action in case if price breaks out to the the upside.
A rangebound to 1.35 is possible.
USD/CAD: Descending Triangle
USD/CAD,
4 hours
LONG
Jan 11
It looks like a descending triangle comes out and the price requests a strong bullish continuation as proof of a breakout.
A descending triangle results in a bullish price action once price breaks out.
USD/CAD now looks to 1.34 on a breakout of the descending triangle as indicators turn bullish.
Disclaimer.
No Investment Advice Provided.
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
Patterns.cc will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Risk Disclosure.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.