Get started
Shaun_NK

Breakthrough to 1.36 Range This Week ~ High Probability

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Shaun_NK Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD pattern CADUSD LONG breakout
1
0
trendanalysis harmonicpatterns chartpattern usdcad usd cad pattern cadusd long breakout
A potential breakout to the higher 1.36 levels are a possibility. We will have to see a clean breakout of the 1.35200 Resistance to spike us to the 1.36 levels. We are going to hit a Fibonacci Level regardless, so if price doesn’t hit the 61.80% Fib we can see it fall with the purple trend line to bounce off the 50% Fib level.
Comment:
Watch out for the Fake Out, we should see this wedge pattern continue to bring the price up.
Comment:
We might start to see a spike in price to continue our way upwards.
Comment:
Seems as though we decided to take the alternative route and we still hit the Fib level perfectly
Comment:
Analysis still holding strong. We have rested on a support level. Potential fakeout before we rise to the 1.36 range
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.