USD/CAD – Week 19 – Expecting a trendline breakout.
The USD/CAD pair fell to a session low of 1.2150 in the early US session. In our previous analysis, we forecasted that USDCAD will break the low again and start a reversal move.
For this week we grow confident that the price rejection from the pitchfork lower line will add some bullish momentum for the US Dollar. At first, we will wait for a breakout from the orange trendline followed by a small correction, which will increase the chances of a bull market.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week we grow confident that the price rejection from the pitchfork lower line will add some bullish momentum for the US Dollar. At first, we will wait for a breakout from the orange trendline followed by a small correction, which will increase the chances of a bull market.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
