#USDCAD Inside a Triangle Pattern
🔹For the past 8 days the USDCAD pair has been trading sideways hugging the 50 MA (1.359) and the support line of the triangle pattern that the pair has been trading inside of since April 16.
🔸Even tho other major pairs gained strength against the Dollar in the last few days due to DXY taking a nose dive from 105.162 to 104.030 a 1% decrease in just a few days, USD has remained stable against the CAD.
🔹The pair is currently trading between it's 50 MA (1.367) and the 200 MA (1.355), any weakness in the CAD would help USD to take over and send the price up to 1.376, 1.378, 1.385, 1.389 and 1.397.
🔸But on the other hand if the price breakout below the pattern and the 200 MA (1.359) the price can drop to the 0.5 fib level (1.351), 0.61 fib level (1.343), 0.78 fib level (1.332) and the support at 1.31819.
Zanzibar Trading
🔸Even tho other major pairs gained strength against the Dollar in the last few days due to DXY taking a nose dive from 105.162 to 104.030 a 1% decrease in just a few days, USD has remained stable against the CAD.
🔹The pair is currently trading between it's 50 MA (1.367) and the 200 MA (1.355), any weakness in the CAD would help USD to take over and send the price up to 1.376, 1.378, 1.385, 1.389 and 1.397.
🔸But on the other hand if the price breakout below the pattern and the 200 MA (1.359) the price can drop to the 0.5 fib level (1.351), 0.61 fib level (1.343), 0.78 fib level (1.332) and the support at 1.31819.
Zanzibar Trading
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.