DAILY CHART EXPLANATION:
🔸 "USD/CAD Breaking the Downtrend" Daily Chart:
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🔸 Price has been on a Descending Wedge for more than a year.
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🔸 It has broken the Descending Trendline of the Wedge today.
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🔸 We consider it has potential to reach the Resistance Zone at 1.35300, and, if this zone is broken, then the next target is the Resistance Zone at 1.36500.
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🔸 We are waiting for a lower timeframe corrective move to get involved on this pair.
WEEKLY CHART ANALYSIS:
🔸 "USD/CAD Breaking the Downtrend" Daily Chart:
.
.
🔸 Price has been on a Descending Wedge for more than a year.
.
🔸 It has broken the Descending Trendline of the Wedge today.
.
🔸 We consider it has potential to reach the Resistance Zone at 1.35300, and, if this zone is broken, then the next target is the Resistance Zone at 1.36500.
.
🔸 We are waiting for a lower timeframe corrective move to get involved on this pair.
WEEKLY CHART ANALYSIS: