Posted on 1 Comment

USDCAD analysis: Bulls running out of time.

The 2 hour timeframe of the USDCAD is presented in this analysis.

USD CAD, USDCAD chart analysis

October 1, 2018 to Friday market close (November 30, 2018) shows price action contained inside of a rising wedge pattern.

The above mentioned chart pattern is ideally bearish and therefore calls for caution on the long (buy) side for the USDCAD. Price levels indicated on the chart 1.33559, 1.32521 and 1.31991.

A break above 1.33559 does imply a continuation of the current uptrend in the USDCAD.

Price breaking or closing outside of the wedge at ~1.32358 is bearish and a further break below the lower level of support (i.e. 1.31991) especially does provide a bearish bias for the USDCAD.

Sign up now  for full access to our premium research and analysis to learn more about USDCAD analysis , price forecast, other Foreign Exchange (FX) pairs and Cryptocurrencies.

Interested in Ripple’s market analysis (XRPUSD)? Check out our previous work here. Moreover,  CHFJPY analysis (FX) can be found here.

1 thought on “USDCAD analysis: Bulls running out of time.

  1. […] Interested in Bitcoin analysis (LTCUSD)? Check out our previous work here. Moreover,  USDCAD analysis (FX) can be found here. […]

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.