Triple Top on USD/CAD

Triple Top on USD/CAD

The current technical pattern has signaled a possible correction of the USD/CAD currency pair after a significant increase since the end of last week. On the 30-minute timeframe, a classic reversal pattern of Triple Top has been formed. At the moment, the key support and resistance levels are 1.34600 and 1.34850, respectively. We recommend paying attention to this situation.

If the price fixes below 1.34600, you should look for entry points to the market to open short positions. The immediate goal for profit taking is the level of 1.34350. The movement is tending to 1.34200-1.34100.

Alternative option. If the price fixes above the resistance level of 1.34850, further growth of the USD/CAD quotes is expected. The movement is tending to 1.35250-1.35500.

When tracking a position, we recommend using a trailing stop.

by JustForex 2019.05.15

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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