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tradingwithyg
May 20, 2018 9:05 PM

USDCAD - Weekly Chart Analysis 

U.S. Dollar / Canadian DollarFOREX.com

Description

Price Action: Neutral
Pattern: Rising wedge in corrective phase
Long-Term Momentum: Bullish
Short-Term Momentum: Bearish
Bias: Neutral
Action: Wait until price is trading above monthly resistance and trend resistance
Comments: Price can go either way in this structure. I would prefer that price break to the upside, but chances of that are similar to price breaking down. Will have to see what happen the next several weeks.
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