Set to Overcome Resistance, Aiming for New Highs?
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Hey Realistic Traders, let's dive into the technical analysis of 
USDCAD
USDCAD has moved above the EMA200 line again, signaling a bullish trend. Recently, on the daily timeframe, it broke the upper trendline of a falling wedge pattern and experienced a MACD bullish crossover, where the MACD line crosses above the signal line, suggesting increasing upward momentum. This combination of technical factors typically signals a potential upside movement to the first target of 1.39423. After reaching this first target, a pullback may occur before continuing its ascent to the second target of 1.40352.
Additional Information:
The prospect of a stronger USDOLLAR also contributes to the recent rally of USDCAD.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on USDCAD."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below
USDCAD USDCAD has moved above the EMA200 line again, signaling a bullish trend. Recently, on the daily timeframe, it broke the upper trendline of a falling wedge pattern and experienced a MACD bullish crossover, where the MACD line crosses above the signal line, suggesting increasing upward momentum. This combination of technical factors typically signals a potential upside movement to the first target of 1.39423. After reaching this first target, a pullback may occur before continuing its ascent to the second target of 1.40352.
Additional Information:
The prospect of a stronger USDOLLAR also contributes to the recent rally of USDCAD.
It is essential to note that the analysis will no longer hold validity once the target/support area is reached.
Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on USDCAD."
Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below
Trade attivo
The upside movement continues as it keeps the price moving above the trendline Nota
USDollar: Moving above the bullish trendline again. supporting our bullish hypothesis :)Trade chiuso: obiettivo raggiunto
Target 1 achieved after waiting for so long. Focusing only on a higher timeframe strategy seems rewarding for us.
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