Will the Rectangle hold or fail? Plot your targets on the chart.
Sideways movement between parallel supports.
Reversal pattern. Price likely to break downwards.
Consolidation. Can break either way.
Bullish continuation if preceding move was up.
Bullish continuation pattern.
Traders are watching /USDCAD (USD/CAD) as price action tightens. Currently at $1.38, the asset is showing downward momentum (-0.78%). Price action has carved out a classic Bullish Flag. Volume is average (1.0x avg) with moderate trend strength (1.2). A potential breakout level is identified at $1.4, targeting $1.44 with support near $1.37 (R:R 2.02).
What is your outlook on USD/CAD?