USDCAD More upside to come.
USDCAD is on an uptrend since forming a support at 1.29500.
Levels to watch:
- The rebound on the support has formed a channel up similar to another two occasions.
- The price just hit the MA50 and is consolidating.
- The long term pattern is a bearish megaphone.
- The bearish megaphone's lower highs are made when the price crosses the MA200. This is a top confirmation.
Projection:
- With the MACD still on a bullish trend, we expect the price to continue rising inside the channel up until it crosses the MA200 and makes a lower high on the megaphone.
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Levels to watch:
- The rebound on the support has formed a channel up similar to another two occasions.
- The price just hit the MA50 and is consolidating.
- The long term pattern is a bearish megaphone.
- The bearish megaphone's lower highs are made when the price crosses the MA200. This is a top confirmation.
Projection:
- With the MACD still on a bullish trend, we expect the price to continue rising inside the channel up until it crosses the MA200 and makes a lower high on the megaphone.
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.