• Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
Digital Skill Institute
  • Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
      • Login

    Forex

    • Home
    • Blog
    • Forex
    • USDCAD Is Trudging Upward From the Triangle Pattern

    USDCAD Is Trudging Upward From the Triangle Pattern

    • Posted by DigitalLeonard
    • Categories Forex, News, Trade Ideas, Trading Briefs, USDCAD
    • Date May 19, 2022
    • Comments 0 comment

    [ad_1]

    USDCAD Analysis – May 18

    USDCAD is trudging upward as the price seeks to break out from its triangle pattern. The triangle system was evenly contested, but the bulls always had the bias. Notwithstanding, the bears delivered the first blow by pushing the price to the downside of the triangle. However, the bulls used their strength to hold onto the market and cause a reversal. After that, the price is seen trudging to the upside of the triangle.

    USDCAD Key Levels

    Resistance Levels: 1.31810, 1.28980
    Support Levels: 1.23000, 1.27200

    USDCAD Is Trudging Upward From the Triangle PatternUSDCAD Long Term Trend: Bullish

    The strength of the bulls has been on display since the middle of last year. However, the price was limited at 1.28980 while the bears kept pushing to higher low levels consistently. This enables the market to store momentum in consolidation. This is seen by the Momentum line, which oscillates back and forth around the zero level.

    As the market edged closer to the tip of the triangle pattern, there was a stronger shuffle between bulls and bears. The bears had the first go by plunging the market below the triangle, but the bulls regained themselves to restore the price and set it on the path of a breakout. The currency pair is leveraging the middle line of the Bollinger Band to keep trudging upward.

    USDCAD Is Trudging Upward From the Triangle PatternUSDCAD Short Term Trend: Bullish

    The market predominantly has bullish momentum, as seen on the 4-hour Momentum chart. Nevertheless, after retracing briefly below the triangle’s upper frame, the price is now having difficulty bypassing it to go upward. This could lead to another retest of the lower frame before the market gains enough energy to re-break the 1.28980 upper triangle frame.

    How To Buy Lucky Block 

    Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

    Share with other traders!

    [ad_2]

    Source link

    • Share:
    author avatar
    DigitalLeonard

    Previous post

    EURCHF Price Is Pacing Upward Due to Bearish Rejection
    May 19, 2022

    Next post

    USDJPY Sellers Are Determined To Recover The Price To 126.900
    May 20, 2022

    You may also like

    shutterstock_1924603376-min-scaled.jpg
    British Law Commission Submits Proposal to Reform Existing Crypto Law
    28 July, 2022
    shutterstock_1915965031-min-scaled.jpg
    US Senators Pass Bill to Exempt Taxation on Small Crypto Transactions
    27 July, 2022
    EURCHF-1Day.png
    EURCHF Bears Successfully Led the Market Into the Demand Zone
    26 July, 2022

    Leave A Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Search

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    ₦60,000.00 ₦25,000.00
    Step By Step Website Design Tutorial For Beginners

    Step By Step Website Design Tutorial For Beginners

    ₦10,000.00
    How To Create A Professional Website Without Coding

    How To Create A Professional Website Without Coding

    ₦150,000.00 ₦5,500.00
    Digital Marketing Institute Logo
    +2348165842119
    support@digitalleonard.com
    Facebook-f Twitter Google-plus-g Pinterest

    Company

    • About Us
    • Blog
    • Become An Instructor
    • Contact

    Links

    • Courses
    • Events
    • Gallery
    • FAQs

    Support

    • Join Our YouTube Channel
    • Telegram Forum
    • Facebook

    Recommend

    • BINANCE
    • BYBIT
    • HUOBI
    • KUCOIN
    • OKEX
    • BITGET

    Digital Skill Institute By DigitalLeonard.Com Powered by Digital Leonard.

    • Privacy
    • Terms
    • Sitemap
    • Contact

    Login with your site account

    Lost your password?