Ascending channel in USDCAD (daily chart)

17 thg 6, 2019

Ascending channel pattern can be seen in the daily chart of USDCAD pair. The pair has been moving in this channel since 7TH SEPTEMBER 2017. It can be noted every time the pair edges lower its fails to breach the ascending trend line of the pattern. It is a good buy opportunity with first target placed at 1.35679 and second target near 1.37910. In case the buying remains persistence, it can make the pair test its third target of 1.40276. The nearest stop loss for the pair is kept around 1.31977.