The Canadian in a good uptrend

The Canadian in a good uptrend


USDCAD

In the Canadian's chart, we see an interesting thing. An upward triangle has formed which may be a signal for further growth. This is indicated by the designated resistance, which has already been tested 5 times, and I know that the more often the level is tested, the weaker it is. So we have a better chance of breaking the price up and increasing further.

I have marked an alternative downside scenario in the picture. If the price leaves the local trend line, we will wait for the support level. When it is punctured, it is possible to enter during the correction which I marked with a blue arrow.

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Biznes-Broker
Biznes-Broker

Trader, cryptocurrency and forex market analyst. Editor of investor magazines: EN: http://biznes-broker.com/ PL: http://pvq.pl/


Analysis of the financial markets
Analysis of the financial markets

Subjective view of the financial market. Mainly Forex, Indexes and Commodities. Analyzes based on technical analyzes. All analyzes are my view of the market. It is not recommended to make trading decisions based on the information provided. You can check my work here: EN: http://biznes-broker.com/ PL: http://pvq.pl/

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