USD/CAD has decisively broken above the upper borderline of a large Symmetrical Triangle price pattern on the daily price chart.
USD/CAD breaks out of a large symmetrical triangle price pattern, activating upside targets. Though it has backed and filled since the break, the probabilities favor a continuation higher. A break above the June 11 high would provide additional bullish confirmation. USD/CAD Daily Chart The long green bullish candle that formed on June 7 and accompanied the upside breakout from the Triangle qualifies as the decisive break and activates the bullish targets for the pattern.
3881, the 0.618 Fibonacci extrapolation of the height of the Triangle from the breakout point higher. A more bullish target lies at 1.3978, the 100% extrapolation of the height of the triangle northwards. Although price action has been slightly bearish since the June 7 breakout, the odds favor a resumption of the initial move higher. A break above 1.3791 would provide further bullish confirmation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD Price Analysis: Threatening to break out of triangle price patternUSD/CAD is pushing up against the upper borderline of a large symmetrical triangle price pattern, threatening to break out to the upside.
Read more »
USD/CAD Price Analysis: Strengthens after Descending Triangle breakoutThe USD/CAD pair extends its upside to 1.3730 in Thursday’s London session.
Read more »
Cryptocurrencies Price Prediction: Crypto, Render & AltcoinsBitcoin (BTC) price consolidates in a symmetrical triangle pattern, showing directional bias.
Read more »
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin’s momentum poise to propel crypto marketBitcoin (BTC) price consolidates in a symmetrical triangle pattern, showing directional bias.
Read more »
USD/CAD Price Analysis: Hovers around 1.3750; grapples to return to rising channelUSD/CAD extends its gains for the second day, trading around 1.3750 during early European hours on Friday.
Read more »
USD/CAD Price Analysis: Rises to near 1.3750 nearing lower boundary of rising channelUSD/CAD breaks its three-day losing streak, trading around 1.3730 during the European session on Thursday.
Read more »