FX:USDCAD   U.S. Dollar / Canadian Dollar
Looking at the weekly chart, UC is generally in an uptrend. We also see that price is moving between two trendlines , thus forming triangle pattern . with this pattern had been falling from mid-March until the movement came to an end when price reach the support trendline where price showed signs of a reversal. The reversal was confirmed not only by candlestick patterns but also the violation of of the bearish intra-trendline. Price did this forming a bullish cup pattern. This gives me more confluence on the the current direction of the market. We are currently in a correction phase (flag). My expectation is a continuation to the upside. But should price hold and maintain the bearish flag , my anticipation is it will drop down to the weekly Support trendline, give us a double bottom and then begin its bullish move from there.

*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial.
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