It looks like the price forms a rising wedge, the price expects a bigger correction for the certainty of breakout.
Once price breaks through the support, the resulting move could identify a change in the prevailing trend.
There is a chance of a bearish price action towards 1.375.
USD/CAD: Bullish Flag
USD/CAD,
1 hour
LONG
Mar 14
There is a bullish flag spotted.
A bullish flag is said to depict a specific chart signal that identifies a bullish price action once price breaks out to the the upside.
USD/CAD to have better chances of advancing to the 1.348 mark as USD/CAD becomes bid.
USD/CAD: Falling Wedge
USD/CAD,
1 hour
LONG
Jun 27
A falling wedge pops up, USD/CAD asks for a move to confirm falling wedge breakout.
A falling wedge denotes a specific signal that typically results in a change in the prevailing trend when price breaks out to the the upside.
There is a probability of a rangebound towards 1.316.
USD/CAD: Rising Wedge
USD/CAD,
1 hour
SHORT
Nov 24
There is a rising wedge happening and the price is ready to break out.
A rising wedge is believed to be a price indicator that is used to predict a further move down when price breaks through the support.
USD/CAD pulls away from recent highs towards 1.369 on a breakout of the rising wedge as outlook for the currency pair stays negative.
USD/CAD: Descending Channel
USD/CAD,
4 hours
LONG
Feb 26
A descending channel is identified, the price is breaking out.
A descending channel can be thought of as a technical bullish price action formation that is angled down that can be used to predict a sharp rise if price breaks through the resistance.
USD/CAD points to the upside to 1.352.
USD/CAD: Ascending Triangle
USD/CAD,
4 hours
SHORT
Mar 5
As we can see the price creates an ascending triangle, the price is about to break out now.
In case if price breaks out, the resulting move could predict a move down.
There is a possibility of a bearish run towards 1.356 as the currency pair sticks to the negative mood.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Dec 4
There is a descending channel determined.
A descending channel is believed to be a specific signal that spots that the price will rally further once price breaks out.
A bullish push up to 1.356 is on the cards.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Mar 14
A descending channel is nearing completion, the price demands a bit more consolidation as proof of a breakout.
If price breaks above resistance, the move could identify that the price to go long.
It is possible that a rangebound to 1.348 will take place once above 1.348 as outlook for the currency pair stays positive.
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
Mar 16
We can see that an ascending channel emerges, USD/CAD asks for a further active move to confirm ascending channel breakdown.
An ascending channel typically predicts a bearish price action once price breaks out.
USD/CAD to continue lower to the 1.37 zone.
USD/CAD: Pennant
USD/CAD,
4 hours
SHORT
Mar 27
There is a pennant encountered, the price demands an active move as a clue of a breakout.
A pennant indicates the more likely potential of falling prices if price breaks through the support.
USD/CAD is bearish and en route to the 1.355 mark on a downside break.
USD/CAD: Ascending Channel
USD/CAD,
1 hour
SHORT
Oct 5
There is an ascending channel observed, USD/CAD needs a more move to confirm a breakout.
An ascending channel is considered to be a compelling price formation that spots extending an downtrend in case if price breakdown occurs.
It is possible that a bearish move towards the 1.37 mark will be made on a breach of 1.372.
USD/CAD: Descending Channel
USD/CAD,
1 hour
LONG
Oct 17
There is a descending channel uncovered, the price is close to breaking out soon.
A descending channel suggests a technical bullish indicator that can be used to identify a change in price direction in case if price breaks through the resistance.
USD/CAD to enjoy a considerable gain towards 1.364 on impulse above 1.3628 as uptrend may continue.
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