The USD/CAD pair is trading at 1.3625 at the time of writing. You knew from my analysis that, after jumping above the downtrend line, the currency pair signaled an upside reversal. As long as it stays above the uptrend line, the price could extend its upwards movement.
Technically, the uptrend line represents a downside obstacle. On the other hand, the 1.3663 former high represents an upside obstacle.
USD/CAD Trading Conclusion!
Jumping above the 1.3663 obstacle activates further growth at least towards the channel’s upside line.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CAD Upside Reversal!
The USD/CAD pair is trading at 1.3625 at the time of writing. You knew from my analysis that, after jumping above the downtrend line, the currency pair signaled an upside reversal. As long as it stays above the uptrend line, the price could extend its upwards movement.
Technically, the uptrend line represents a downside obstacle. On the other hand, the 1.3663 former high represents an upside obstacle.
USD/CAD Trading Conclusion!
Jumping above the 1.3663 obstacle activates further growth at least towards the channel’s upside line.
The material has been provided by InstaForex Company – www.instaforex.com
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