Triple Top on USD/CAD

Triple Top on USD/CAD

The current technical pattern signals a possible correction of the USD/CAD currency pair after a significant increase since the beginning of the current month. Near the key supply zone of 1.33100-1.33350, the classic reversal pattern of Triple Top (H1 timeframe) has been formed. At the moment, the USD/CAD quotes are testing the local support level of 1.32250. We recommend paying attention to this situation.

If the price fixes below 1.32250, you need to look for entry points to the market to open short positions. The immediate goal for profit taking is the “mirror” support level of 1.31600 (61.8% correction zone). The movement is tending to 1.31250-1.31000. When following a position, we recommend using a trailing stop.

by JustForex 2019.02.18

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.

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