Hi Traders
I hope you have managed to get a little down time in over the weekend and are refreshed and ready to go for another week in the markets, lets have a profitable week!
Here we have an ascending triangle on the weekly time frame.
Now the reason we are not sure if the market will break out to the upside or downside is normally we see this pattern after a bullish impulse and then we see a further break to the upside. However we are seeing this after a bearish run which means we will be monitoring this critical level to see which direction we will be breaking.
In the weeks ahead we still expect to see some more bullish movement as the US Dollar is getting stronger and the Canadian Dollar is starting to show signs of weakness.
As always let me know in the comments below what you think of this set up and what your thoughts are ?
As always all and any likes and comments are greatly appreciated.
Lets manifest a profitable and safe trading week!
The Fx Chartist
I hope you have managed to get a little down time in over the weekend and are refreshed and ready to go for another week in the markets, lets have a profitable week!
Here we have an ascending triangle on the weekly time frame.
Now the reason we are not sure if the market will break out to the upside or downside is normally we see this pattern after a bullish impulse and then we see a further break to the upside. However we are seeing this after a bearish run which means we will be monitoring this critical level to see which direction we will be breaking.
In the weeks ahead we still expect to see some more bullish movement as the US Dollar is getting stronger and the Canadian Dollar is starting to show signs of weakness.
As always let me know in the comments below what you think of this set up and what your thoughts are ?
As always all and any likes and comments are greatly appreciated.
Lets manifest a profitable and safe trading week!
The Fx Chartist