Get started
ProficientForex

USDCAD - Probable Expanded Flat Pattern formation in Wave IV

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
ProficientForex  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Harmonic Patterns Technical Indicators Wave Analysis USDCAD usdcadsignal usdcadidea pf-marketanalysis usdcadforecast usdcadprediction
8
1
harmonicpatterns indicator waveanalysis usdcad usdcadsignal usdcadidea pf-marketanalysis usdcadforecast usdcadprediction
The structure of the downtrend which has been started from the range of 1.3420, has finished in the range of 1.2928 which is in the form of 3 waves. Given this trend, we will probably have a 5-wave uptrend in C-wave, which could be extended up to the target of 1.3523.
If the price crosses the range of 1.2928, this analysis will be violated. In case the price crosses the range of 1.3172, we can expect an uptrend forming hopefully.

Related Ideas

ProficientForex
USDCAD-Update
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.