FX:USDCAD   U.S. Dollar / Canadian Dollar
13 0
Hello Traders,
Here we have the USDCAD structure labelled on the daily timeframe . Essentially we have two possibilities here that may be possible. But, remember the bigger move is to the downside regardless of either shorter time outcome. As of now we are seeing this as an expanding diagonal which is succeeded by an abc flat and then downside which means we will follow only one arrow up and then come down.

The Second possibility is if the expanding diagonal is actually an abc pattern with a running flat in the b wave and rather a pattern for upside. This currently seems less likely given the most recent pullback we have. However, if this patterns plays out. We will follow both arrows up to around 1.36 and then go into our larger downmove highlighted by the second set of arrows.

Both of these possibilities are tradeable so keep an eye out for either of these to play out and come get the inside scoop in our Premium Signal Service groupchat.

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