[URL deleted] USD/CAD price performed a symmetrical [URL deleted] triangle pattern on the Monthly chart.
The price range becomes very tight, it seems that very soon the price will have to pick a direction and to break the pattern.
It is very rare to find a [URL deleted] triangle pattern on the monthly chart,
If the price will break the pattern toward up I'll look for a price action setup to buy [URL deleted] USD/CAD.
If the price will break down the pattern I'll look for a price action setup to sell [URL deleted] USD/CAD.
The demand below on the monthly chart is the target for the sell position,
The supply above is the target for the buy position.
The demand below on the [URL deleted] daily chart is still inside the pattern and therefore it riskier to trade it, but it's still a level with potential
For good trade.
This is a long term analysis for the [URL deleted] USD/CAD.
The price range becomes very tight, it seems that very soon the price will have to pick a direction and to break the pattern.
It is very rare to find a [URL deleted] triangle pattern on the monthly chart,
If the price will break the pattern toward up I'll look for a price action setup to buy [URL deleted] USD/CAD.
If the price will break down the pattern I'll look for a price action setup to sell [URL deleted] USD/CAD.
The demand below on the monthly chart is the target for the sell position,
The supply above is the target for the buy position.
The demand below on the [URL deleted] daily chart is still inside the pattern and therefore it riskier to trade it, but it's still a level with potential
For good trade.
This is a long term analysis for the [URL deleted] USD/CAD.
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