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.
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: 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: 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,
4 hours
LONG
Nov 19
A descending channel has been noticed.
A descending channel is a useful price action indicator that signals that the price will rally further if price breaks out.
There is a probability of a move towards the 1.406 mark on a upside break as the currency pair becomes bullish.
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.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Oct 24
A descending channel turns up and the price needs a further strong impulse up as evidence of a breakout.
Once price breaks above resistance, the move could spot a further move up.
USD/CAD looks ready to further extend its gains towards 1.374.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Oct 16
As we can see the price forms a descending channel, the price is ready to break out.
In case if price breaks out to the the upside, the move could signal a next move up.
Usdcad turns higher to the 1.406 level as door open for a test of 1.406.
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
Oct 5
We can see that an ascending channel is close to being finished, the price is about to break out.
An ascending channel can be thought of as a compelling price signal that typically identifies that the price to go down in case if price collapses through the support line.
A bearish move to 1.37 about to be made as USD/CAD becomes capped.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
31 hours ago
As we can see usdcad gives a descending channel, the price is breaking out.
A descending channel is believed to be a bullish chart signal that predicts an interruption of a downtrend when price breaks through the resistance.
Usdcad to look for a further push towards the 1.396 level while above 1.3954 as bulls looking for upside correction.
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