Monday, June 27, 2022

Descending Triangle Support broken on USDCAD 4hr chart
1 mins well spent

USDCAD Descending Traingle Analysis

USDCAD formed lower highs, equal lows which creates a descending triangle pattern.

Today, Market broken the support level of Descending Triangle after long time.

Crude oil price rising continuously in an Uptrend.

Due to Oil markets rise, CAD currency getting stronger now.

This is the reason for breakout at the bottom zone of this descending triangle pattern.

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