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courtsantos

USDCAD Triangle break to the downside.

Short
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
courtsantos Updated   
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Chart Patterns Trend Analysis
2
0
chartpattern trendanalysis
Daily time frame displays a triangle break to the downside. Monthly charts shows strong bearish momentum. I would wait a couple of days to test the new resistance line to see if bears could keep bulls from gaining control.
Comment:
The yellow line is the daily support that was broken, and if price continues bearish, it could possibly hit the weekly/monthly support level at 1.29544
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