Breakout of Symmetrical triangle leading to development of a bullish triangle and ultimately to hit August 1998 highs around the end of 2015 or into 2016.
Nota
2 and half months later, still doing its thing. Curious to see if the current uptrend of USDCAD bounces off the multi-year resistance or breaks through here in the pattern.Dagangan aktif
Pattern still on Target after 3 and a 1/2 Months. 🧐Will it punch through the upper line? 👊
Dagangan aktif
A "W" continuation pattern is forming on the monthly targeting 2016 and 2020 highs of 1.46.Dagangan aktif
🎆5 MONTHS and pattern STILL on track! 🧐JUNE 5: Bank of Canada to cut rates? Pattern is running out of runway.
Dagangan aktif
December 26-28: pattern failed to breakdown.April 16-17: failed to Breakout
June 11: again failed to Breakout
Will likely pull back to 1.365s before bouncing off support line that has developed throughout 2024.
Canada economic fundamentals horrible.
Dagangan aktif
HISTORY-Failed to breakdown Dec 23
-Failed to breakout APR 24 & JUN 24
NOW
-JULY 22, 2024 has broke through upper resistance line again (three times a charm?)
-Bank of Canada cutting again this week -Canada economic indicators a trainwreck
-should successfully breakout and consolidate above this resistance line
-markets will punish the BOC for the gap between Canada/US rates by selling the CAD... like HARD
Dagangan aktif
7 Months in the making... NAILED It!!! July was the breakout. NOW? Back testing breakout of Symmetrical triangle.
Could bounce around for a few days in 1.370-1.375 range or ride the new support line until September.
PREDICTION: Pop to 1.46 in September.
Dagangan aktif
MONTHLY (SINCE JANUARY 2024)....After a wild WHIPSAW in August showing another failed breakout,
CAD is now heading into the next step of the pattern. Expect it to POP to 1.46 as a result of the (crazy) U.S. Election.
Dagangan ditutup: sasaran tercapai
💥RIGHT ON TARGET!!! - Monthly (SINCE JANUARY 2024)⬆️STILL HEADING TO 1.65ish.
Wild chart right? Unfortunately Trading View will not let me keep this chart open anymore.😔
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.