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TradingFellow

USDCAD Descending Channel

Long
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
TradingFellow  
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns Parallel Channel tradingfellow Technical Analysis chartist Forex
5
0
trendanalysis chartpattern parallelchannel tradingfellow technicalanalysis chartist forex
The bottom line of the channel and the 1.272 Fibonacci extension level form a nice technical confluence and could give us support. There's upside potential for this pair. It seems like the channel will be invalidated or the price of the USDCAD will rise.
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