USDCAD: The Crucial Moment

USDCAD, H2

On the H2, USDCAD has formed a symmetrical triangle pattern. The price is squeezed between two moving lines, indicating the possibility of a strong move if the trend lines are broken.

• If the price breaks the upper trendline above 1.4350 and MA100, it will start rising to 1.4375 and further to 1.4400;

• A breakdown of the lower trendline below 1.4330, MA50, and the nearest fractal will start a decline to 1.4280;