USD/CAD Threatens a Big Breakout
The North American cross of the US and Canadian dollars has been on quite a run of late.
The pair has rallied for 11 of the last 12 days to test its April high near 1.3845 as of writing. Interestingly, the pair formed a potential double bottom pattern in the interim, hinting at the potential for a more extended rally from here if that resistance level gives way.
For now, the key question will be whether we see a weekly close above the April high, or whether a near-term pullback (which traders would likely see as a buying opportunity) is more likely.
-MW
The pair has rallied for 11 of the last 12 days to test its April high near 1.3845 as of writing. Interestingly, the pair formed a potential double bottom pattern in the interim, hinting at the potential for a more extended rally from here if that resistance level gives way.
For now, the key question will be whether we see a weekly close above the April high, or whether a near-term pullback (which traders would likely see as a buying opportunity) is more likely.
-MW
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.