USDCAD: May break out soon
The price had been falling for a while, then entered a platform. Now, where would the price go?
There is no obvious chart pattern for the price, so we need to find other signals.
First, the MACD went through a bullish cross and has been going up for a while. This is a good signal. Also, the RSI is going up.
The Bollinger Bands shrunk, which means there could be a big change soon.
We still need to find a support area for the price, I would consider this platform a support area. The price may go up from here.
Let’s expect the price to go up
There is no obvious chart pattern for the price, so we need to find other signals.
First, the MACD went through a bullish cross and has been going up for a while. This is a good signal. Also, the RSI is going up.
The Bollinger Bands shrunk, which means there could be a big change soon.
We still need to find a support area for the price, I would consider this platform a support area. The price may go up from here.
Let’s expect the price to go up
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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.