USDCAD: One More Trend-Following Setup
We previously observed a clear breakout of a vertical trend line on a short-term chart.
Following this, the price displayed several bullish signals on a 4-hour timeframe.
Initially, there was a double bottom formation with a break above the neckline. Subsequently, the price also broke through a resistance level within a horizontal range.
Overall, market sentiment is strongly positive for this pair. We can expect further upside movement, potentially reaching at least 1.3782.
Following this, the price displayed several bullish signals on a 4-hour timeframe.
Initially, there was a double bottom formation with a break above the neckline. Subsequently, the price also broke through a resistance level within a horizontal range.
Overall, market sentiment is strongly positive for this pair. We can expect further upside movement, potentially reaching at least 1.3782.
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