Triple Top on USD/CAD

Triple Top on USD/CAD

The current technical pattern signals a possible correction of the USD/CAD currency pair after a rather continuous growth. In a trading instrument, the classic reversal pattern of Triple Top has been formed (H1 timeframe). At the moment, the USD/CAD quotes are testing the local support level of 1.32850. We recommend paying attention to this situation.

If the price fixes below 1.32850, it is necessary to look for entry points to the market to open short positions. The closest target for profit taking is the support level of 1.32450. The movement is tending to 1.32150-1.30900. When following a position, we recommend using a trailing stop.

by JustMarkets 2019.08.21

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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