Razvan

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.
lgiulian
2 years ago
What a confluence here! Good catch Razvan. I'll look for a price action on daily timeframe. Thanks
Reply
Razvan lgiulian
2 years ago
Thank you and good luck :)
Reply
SmartTrader
2 years ago
Hi im thinking a pullback to trend line, also noticed a possible Gartley pattern. What do you think?
snapshot
+1 Reply
Razvan SmartTrader
2 years ago
it is possible, I am would think of an harmonic pattern only after the price reaches B point. But your analysis looks pretty nice.
Reply
HamzaLeith
2 years ago
Nice piece of work Razvan! tnx for sharing
Reply
Razvan HamzaLeith
2 years ago
Thank you HamzaLeith, glad you like it.
+1 Reply
AdrianRotaru
2 years ago
I wait a confirmation to Sell at 1.0760 area, with SL at 1.0790 area and look for TP 1.0590 area
Reply
Razvan AdrianRotaru
2 years ago
good setup, good luck :)
Reply
AdrianRotaru Razvan
2 years ago
Thanks for the idea Razvan
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out