The USDCAD presents three scenario.
Upon analyzing the Monthly Chart, we discern the formation of a triple top pattern at the significant level of 1.4100.
Moving to the Weekly Chart, we observe that the currency pair has already encountered resistance at 1.3700 and is currently retracing towards its support level at 1.3140.
Lastly, in the Daily Chart, a clear uptrend is evident, with the price finding support on July 12, 2023, at 1.3125 and now poised to ascend towards the resistance level at 1.3800.
These carefully analyzed indicators demonstrate the potential for a favorable trading opportunity in the USDCAD.
Kindly share your thoughts and opinions in the comment section. Your valuable insights are greatly appreciated.
Upon analyzing the Monthly Chart, we discern the formation of a triple top pattern at the significant level of 1.4100.
Moving to the Weekly Chart, we observe that the currency pair has already encountered resistance at 1.3700 and is currently retracing towards its support level at 1.3140.
Lastly, in the Daily Chart, a clear uptrend is evident, with the price finding support on July 12, 2023, at 1.3125 and now poised to ascend towards the resistance level at 1.3800.
These carefully analyzed indicators demonstrate the potential for a favorable trading opportunity in the USDCAD.
Kindly share your thoughts and opinions in the comment section. Your valuable insights are greatly appreciated.