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USDCAD analysis: Bullish trend to continue?

The 4 hour tf of the USDCAD in this analysis covers price action from June 22, 2018 to market close last week (November 2, 2018).

 

cad usd, cad usd chart, cad usd analysis,  Canadian dollar forecast 2018A breakout above the bearish trendline can be observed on October 26, 2018 which implies bullish action in the USDCAD.

However, formation of what is best described as a rising wedge from October 2, 2018 carries a bearish message. ~1.31926 and 1.30471 are important price levels to pay to attention to. A break below 1.30471 could see the USDCAD reach the origin of the wedge as a minimum expectation for price action.

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