USDCAD analysis: Bullish trend to continue?
The 4 hour tf of the USDCAD in this analysis covers price action from June 22, 2018 to market close last week (November 2, 2018). A breakout above the bearish trendline can be observed on October 26, 2018 which implies bullish action in the USDCAD.
However, formation of what is best described as a rising wedge from October 2, 2018 carries a bearish message. ~1.31926 and 1.30471 are important price levels to pay to attention to. A break below 1.30471 could see the USDCAD reach the origin of the wedge as a minimum expectation for price action.
However, formation of what is best described as a rising wedge from October 2, 2018 carries a bearish message. ~1.31926 and 1.30471 are important price levels to pay to attention to. A break below 1.30471 could see the USDCAD reach the origin of the wedge as a minimum expectation for price action.
