Hi Traders!
There is a triangle pattern on the USDCAD 4H chart ahead of the Bank of Canada (BoC) Monetary Policy Report, Rate Decision, and press conference.
Here are the details:
The price action looks bullish due to US dollar strength, and the market is currently in a consolidation phase in the triangle.
Depending on what we get later from the Bank of Canada, we may get a re-test of the monthly high at 1.35420 if the triangle resistance breaks.
It is expected that the BoC will hold rates at 5%.
Preferred Direction: Buy
Resistance: 1.34797 (TRENDLINE RESISTANCE)
Resistance: 1.35420 (MONTHLY HIGH)
Support: 1.34401 (TRENDLINE SUPPORT)
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
There is a triangle pattern on the USDCAD 4H chart ahead of the Bank of Canada (BoC) Monetary Policy Report, Rate Decision, and press conference.
Here are the details:
The price action looks bullish due to US dollar strength, and the market is currently in a consolidation phase in the triangle.
Depending on what we get later from the Bank of Canada, we may get a re-test of the monthly high at 1.35420 if the triangle resistance breaks.
It is expected that the BoC will hold rates at 5%.
Preferred Direction: Buy
Resistance: 1.34797 (TRENDLINE RESISTANCE)
Resistance: 1.35420 (MONTHLY HIGH)
Support: 1.34401 (TRENDLINE SUPPORT)
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.