Cup and Handle pattern on $USDCAD Monthly

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hi Traders,

I was just checking this $USDCAD monthly chart and I found out a pattern that I like the most and very powerful one. It is called ''Cup and Handle'' and is a long term formation that takes months to build. As we can see, it started building in 2009 and we are very close to break out the horizontal like we starts the effect of this pattern. The target for this pattern is 1.5600 !!! Around 2,500 pips from breakout level which is 1.3063 (March 2009 high).
Also fundamentals help, with Canada entering into recession period and just decreased Interest Rate last week and US close to increase Interest Rate and high levels in Productivity and very low levels in Unemployment.


Thiago Duarte
Nice, i like cup and handle patterns, this is a long term one and very possible. Best regards.
+1 Reply
IvanLabrie FullTimeTrader
Was thinking the same today. I'll try to go long tomorrow before/during NFP.
Heavy cad data will give us a very strong move up. Good thing is the minimal drawdown, these trades just go in one direction since you jump in, and you can go BE asap.
+1 Reply
FullTimeTrader IvanLabrie
Be careful, the idea posted by thiagold above is very long term. According to AndyM count we are at wave 5, so tomorrow i expect some correction (bad NFP news). That coincides with my GPBUSD long idea......
+1 Reply
IvanLabrie FullTimeTrader
I expect nothing. I will go where the flow takes me. Intraday trade.
My analysis leads to a decline in eurusd, sharp, and a dax rally.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out