At the moment, USD/CAD is facing the key resistance 1.2471 and we have a nice formation of the cup and handle pattern.
Generally, if the cup and handle forms after a downtrend, it could signal a reversal of the trend and according to my analysis, the trendlline resistance is already broken and a breakout above 1.2471 level as well, may indicate that bulls are taking over.
If you have a different view, please share, I would love to hear your analysis.
Generally, if the cup and handle forms after a downtrend, it could signal a reversal of the trend and according to my analysis, the trendlline resistance is already broken and a breakout above 1.2471 level as well, may indicate that bulls are taking over.
If you have a different view, please share, I would love to hear your analysis.