USDCAD Consolidation Pattern...A Breakout To The Upside?
USDCAD is in a consolidation pattern with range extremes coming in at 1.2675 - 1.2915.
We could see a return to point C and see a reversal lower to the 1.2675 area around point D.
If price action breaks above and closes above point C we could see an impulse move higher to the area of 1.3015 and onward to the 1.32 handle.
The bullish hammer formed on the 14th of Dec puts a bullish sentiment ahead of bearish at current prices.
We could see a return to point C and see a reversal lower to the 1.2675 area around point D.
If price action breaks above and closes above point C we could see an impulse move higher to the area of 1.3015 and onward to the 1.32 handle.
The bullish hammer formed on the 14th of Dec puts a bullish sentiment ahead of bearish at current prices.