empty
 
 
20.01.2021 05:48 PM
USDCAD and the wedge pattern

USDCAD bulls could not hold price above the key level of 1.2730-1.2750 which was our condition for a bigger bounce higher. Price broke below the back test area and is making new lower lows. However the new lower lows in price are not followed by a new lower low in the RSI.

This image is no longer relevant

Red lines - wedge pattern

Blue line - bullish divergence

USDCAD recent price action has made us resketch the wedge pattern in order to include more important points and in order to depict the current situation in a clearer way. Trend remains bearish as price continues making lower lows. The RSI still remains above the blue trend line confirming the bullish divergence. Traders need to be very cautious. As long as the RSI is not breaking to new lows the chances for an upward reversal and another break above and out of the downward sloping wedge pattern are high. At current levels we prefer to be neutral if not bullish.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $5000 lebih banyak!
    Pada November kami mengundi $5000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback