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: 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: 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
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: Falling Wedge
USD/CAD,
1 hour
LONG
Apr 10
USD/CAD: Bearish Flag
USD/CAD,
1 hour
SHORT
Nov 25
We can see that a bearish flag is very close to being completed, usdcad wants further bigger pullback for the certainty of breakout.
A bearish flag suggests a reliable price pattern that identifies a move down in case if price breaks out.
Usdcad could extend its slump towards the 1.4105 mark on a breakout of the bearish flag.
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.
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: Rectangle
USD/CAD,
1 hour
SHORT
Nov 26
There is a rectangle discovered, the price is ready to break out now.
A rectangle denotes a signal that often results in a bearish price action if price breaks down.
Usdcad now looks to 1.408 as risk reversal sheds bullish bias.
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