Usd Cad Long

I have identified a potentially bullish move for the USD/CAD forex pair

Ascending Triangle Pattern: On the daily chart, the USD/CAD has been forming an ascending triangle pattern. This pattern is characterized by a horizontal resistance level and higher lows, indicating potential bullish pressure building up. A breakout above the resistance level could trigger a strong upward move.

Bullish Divergence: The Relative Strength Index (RSI) on the daily chart is showing a bullish divergence. While the price has been making lower lows, the RSI is forming higher lows, suggesting that the bearish momentum is weakening and a potential reversal could occur.

Moving Averages: The 50-day moving average (MA) has recently crossed above the 200-day MA, confirming a bullish crossover known as the "golden cross." This crossover signals a shift in momentum and supports the bullish bias.

Support Confirmation: The USD/CAD has recently tested and held firm at a key support level , providing further evidence of potential upward movement.

การซื้อขายยังคงดำเนินอยู่:

stops moved to breakeven

ความคิดเห็น:

take some profits here

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