USDCAD - Continuing the Trend or Breaking the Wedge

FX:USDCAD   U.S. Dollar / Canadian Dollar
What an interesting situation for the loonie. The primary trend is still up, since the price was rejected from the trend line . An up side move is also sustained by the Falling Wedge , drawn during the past two months. A break above 1.0800/0837 would raise the probability for the US dollar             to recover the loss.
On a lower time span a break below 1.07100 could mean that bears are ready to act again. In this case I will see a target around 1.0600.
I wait a confirmation to Sell at 1.0760 area, with SL at 1.0790 area and look for TP 1.0590 area
Razvan AdrianRotaru
good setup, good luck :)
Thanks for the idea Razvan
Nice piece of work Razvan! tnx for sharing
Razvan HamzaLeith
Thank you HamzaLeith, glad you like it.
+1 Reply
Hi im thinking a pullback to trend line, also noticed a possible Gartley pattern. What do you think?
+1 Reply
Razvan SmartTrader
it is possible, I am would think of an harmonic pattern only after the price reaches B point. But your analysis looks pretty nice.
What a confluence here! Good catch Razvan. I'll look for a price action on daily timeframe. Thanks
Razvan lgiulian
Thank you and good luck :)
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