TECHNICAL IDEA ON USDCAD

2022年9月23日

In my little analysis I think USDCAD has been on a bullish rectangle from at least june, last year and through april this year as well. And it broke out of the rectangular pattern, with an ascending triangle. From which it has broken out this week to hit the long-term resistance zone of almost 7yrs ago. So even if it will continue to rise, I believe price is will come back to test the 2yr low {1.3000s} after hitting {1.3600s}. and if I want to jump on this pair, I will go short once I spot my entry trigger/s on that area of value. My Possible targets would be {1.3200s and 1.2900s}.