USD/CAD - Cup and Handle - $ is BACK
At the moment, USD/CAD is facing the key resistance 1.2471 and we have a nice formation of the cup and handle pattern.
Generally, if the cup and handle forms after a downtrend, it could signal a reversal of the trend and according to my analysis, the trendlline resistance is already broken and a breakout above 1.2471 level as well, may indicate that bulls are taking over.
If you have a different view, please share, I would love to hear your analysis.
Generally, if the cup and handle forms after a downtrend, it could signal a reversal of the trend and according to my analysis, the trendlline resistance is already broken and a breakout above 1.2471 level as well, may indicate that bulls are taking over.
If you have a different view, please share, I would love to hear your analysis.
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.