∙ Average true range is a volatility indicator
∙ Low readings or declining ATR line shows that volatility is shrinking and the price is in a consolidation and implies a breakout or higher volatility ahead
∙ The Canadian Dollar is trading lower benefiting from a weak US Dollar but still within the 1.33-1.38 range that is holding for more than a year (since September 2022)
∙ Meanwhile, the ATR kept on declining for the year confirming the consolidation phase
∙ Bulls attempted to break above the symmetrical triangle but failed to build on gains and the price is back within the triangle
∙ Potential triple top at 1.380-1.3850
∙ Traders are advised to step aside for the moment and not anticipate the breakout which can happen either way
∙ Low ATR value combined with a stretched triangle imply that the breakout is near and can be a big one
∙ Low readings or declining ATR line shows that volatility is shrinking and the price is in a consolidation and implies a breakout or higher volatility ahead
∙ The Canadian Dollar is trading lower benefiting from a weak US Dollar but still within the 1.33-1.38 range that is holding for more than a year (since September 2022)
∙ Meanwhile, the ATR kept on declining for the year confirming the consolidation phase
∙ Bulls attempted to break above the symmetrical triangle but failed to build on gains and the price is back within the triangle
∙ Potential triple top at 1.380-1.3850
∙ Traders are advised to step aside for the moment and not anticipate the breakout which can happen either way
∙ Low ATR value combined with a stretched triangle imply that the breakout is near and can be a big one
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.