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USD/CAD Signals Bullish Continuation with a Channel Breakout
The USD/CAD has been trading in a falling channel seen in the 4H chart since marking a new high on the year at 1.1466 earlier in November. A Falling Channel: In the 4H chart we saw can see price action held within a falling channel, with lower highs and lower lows until today. Also note that the RSI has tagged 30 to show bearish momentum. Bullish Continuation Signal: Today (11/27), USD/CAD is signaling bullish continuation with a breakout from November’s falling channel. We can also see that price is pushing back above the 200-, 100-, and 50-period SMAs, reviving bullish bias. The 4H RSI also broke above 60 to show ... (full story)
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