Hi Traders,
The USDCAD broke out and retested the inverted H&S neckline that lined up with support level.
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The price has also broken out the a-b-c zigzag corrective pattern CTL in wave (ii) with a five-wave impulse in wave "i."
.
To position ourselves in the bullish trend, we will wait for the price to make a three-wave retracement in wave "ii" of (iii) which is most likely to reach 50-61.8 Fib ratio that lined up with support level.
.
The projected target area for wave "iii" of (iii) is around 1.36508, and the entire wave (iii) "long-term target" is expected to terminate at 1.38080 area.
.
What's your view on USDCAD? Kindly let me know in the comment.
.
Best of luck on the chart!
Veejahbee.
The USDCAD broke out and retested the inverted H&S neckline that lined up with support level.
.
The price has also broken out the a-b-c zigzag corrective pattern CTL in wave (ii) with a five-wave impulse in wave "i."
.
To position ourselves in the bullish trend, we will wait for the price to make a three-wave retracement in wave "ii" of (iii) which is most likely to reach 50-61.8 Fib ratio that lined up with support level.
.
The projected target area for wave "iii" of (iii) is around 1.36508, and the entire wave (iii) "long-term target" is expected to terminate at 1.38080 area.
.
What's your view on USDCAD? Kindly let me know in the comment.
.
Best of luck on the chart!
Veejahbee.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.