USDCAD 1.3293 – bullish – Consolidates within a 6-week rising wedge
USDCAD reached the 1.3371 high (November 16, 2015) before ranging within a 6-week rising wedge as shown on the daily chart. While the 1.3224 area (November 12, 2015 low) near 38.2% of the 1.2832/1.3371 upleg and the rising wedge support holds the pullback, scope remains for further upside through 1.3371 to focus 1.3456 (September 29, 2015 YTD high). However, a break below the 1.3224 area would caution for near-term topping and risk further losses towards 1.3191 (November 6, 2015 low) then 1.3116 (76.4% of the 1.2832/1.3371 upleg) near the 6-month rising trendline (from May 13, 2015 low).
Outlook:
Intraday: neutral
Daily: bullish while above 1.3224
Weekly: bullish
USDCAD reached the 1.3371 high (November 16, 2015) before ranging within a 6-week rising wedge as shown on the daily chart. While the 1.3224 area (November 12, 2015 low) near 38.2% of the 1.2832/1.3371 upleg and the rising wedge support holds the pullback, scope remains for further upside through 1.3371 to focus 1.3456 (September 29, 2015 YTD high). However, a break below the 1.3224 area would caution for near-term topping and risk further losses towards 1.3191 (November 6, 2015 low) then 1.3116 (76.4% of the 1.2832/1.3371 upleg) near the 6-month rising trendline (from May 13, 2015 low).
Outlook:
Intraday: neutral
Daily: bullish while above 1.3224
Weekly: bullish
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.