Ascending Triangle on USD/CAD

Ascending Triangle on USD/CAD

There is an ambiguous technical pattern on the USD/CAD currency pair. At the moment, the quotes are in a sideways trend. The key range is 1.29500-1.30350. A classical figure of the technical analysis, Ascending Triangle, has been formed in the trading instrument (H4 timeframe). We recommend you to pay attention to this situation.

If the price fixes above the key resistance of 1.30350, it is necessary to consider buying USD/CAD. The movement is tending to the round level of 1.31000. When tracking the position, we recommend using a trailing stop.

Alternative option. Ascending Triangle quite often acts as a reversal formation. If the price fixes below 1.29500, the USD/CAD quotes are expected to fall. The immediate goal for profit taking is the round level of 1.29000. The movement is tendung to 1.28500-1.28250.

by JustForex, 2018.06.14

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

Abrir cuenta

Consigue análisis gratis

* campos obligatorios
Últimos artículos
Todos los artículos