USDCAD has formed a Rising Wedge on its daily chart.
The price is trading below the EL: 1.35629 and below the Pivot5 Rising Wedge Floor.
The price on the Wed 4rd '23 has formed a (MSH) Market structure Hight taking the previous lows signaling a Short outcome for the pair.
Also the price on the Friday 6th Jan '23 session has supported the idea taking new lows.
Target1:
62%: 1.30121
79%: 1.29525
Target2:
127%: 1.27895
162%: 1.26685
The price is trading below the EL: 1.35629 and below the Pivot5 Rising Wedge Floor.
The price on the Wed 4rd '23 has formed a (MSH) Market structure Hight taking the previous lows signaling a Short outcome for the pair.
Also the price on the Friday 6th Jan '23 session has supported the idea taking new lows.
Target1:
62%: 1.30121
79%: 1.29525
Target2:
127%: 1.27895
162%: 1.26685
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After 2 Days of consolidation the price broke lower Note
UC finds resistances 1.34336Note
USDCAD Rejected the 1.34336 resistance.
the price should have next stop 100%: 1.32259
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.