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Wednesday, May 25, 2022

EURUSD retesting the Triangle breakout and CADJPY hits Trendline Support
1 mins well spent

Forex Market Analysis for Education Purpose

EURUSD retesting the Triangle breakout level

EURUSD broken the top level of the Symmetrical Triangle recently, check here.

After breakout market went up around 80 pips and came to retest the breakout level.

CADJPY Trend Analysis in 4 hour chart

CADJPY starts to move in an Uptrend by forming Higher Highs, higher lows in 4 hr chart.

Now, market reached the support level of Up trend line.

CADJPY reach trend line support in 4 hr chart

Due to the correction in crude oil price, CAD currency made a correction.

descending triangle forex chart pattern in usdcad
descending triangle forex chart pattern in usdcad

We are waiting for breakout of USDCAD Descending Triangle pattern for picking up the long term trade.

As crude oil price movement impacting CAD currency to get weak or strong. it’s following a strong correlation at this lock down period too.

Let’s wait for the confirmation of good trade setup.

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