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🟢Forex Pair: USD/CAD
⚪Technical Analysis: Since December 2020, the price has been consolidating, moving with a side trend between the two S/R levels at about 1.28700 and 1.26700. During that range of period, the price attempted many times a bearish movement, creating a possible triple bottom pattern. It is currently moving with a strong bullish impulse, reaching twice the main resistance zone. The next price action around that zone will be essential to understand the next market movement.
🔴Conclusion: In the daily time frame, since March 2020 the price has been following a strong downtrend, ending with a triple rejections on the support zone at about 1.26200. I'm confident to see the price starting a new trend and I'll be waiting for the breakout of the main resistance zone before planning my long position on this trade.
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️