USD/CAD analysis for November, 2023 – Potential for the breakout mode
November 1, 2023 10:23 am
Technical analysis:
USD/CAD has been trading sideways at the price of 1.3880 and I see potential for the breakout mode.
Due to the the defined upside trend on the short-term perspective and potential bull flag pattern in creation, I see potential for the further upside continuation in case of the breakout of 1.3900.
Upside objective is set at the price of 1.3970
Alternative scenario : In case of the breakdown of the support at 1.3800 and hold below, there is the chance for the drop towards 1.3670
RSI oscillator is showing positive reading and upside condition.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
USD/CAD has been trading sideways at the price of 1.3880 and I see potential for the breakout mode.
Due to the the defined upside trend on the short-term perspective and potential bull flag pattern in creation, I see potential for the further upside continuation in case of the breakout of 1.3900.
Upside objective is set at the price of 1.3970
Alternative scenario : In case of the breakdown of the support at 1.3800 and hold below, there is the chance for the drop towards 1.3670
RSI oscillator is showing positive reading and upside condition.
The material has been provided by InstaForex Company – www.instaforex.com
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