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FX.co ★ USDCAD H1: Bearish Rectangle

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Technical Analysis Patterns

2022-12-02T06:18:38
Signal strength 4 of 5

USDCAD H1: Bearish Rectangle

Bearish RectangleAccording to the chart of H1, USDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3394 - 0.0000 and support 1.3469 – 0.0000. In case the resistance level 1.3469 - 0.0000 is broken, the instrument is likely to follow the bearish trend.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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