USD/CAD is currently showing signs of weakness after breaking below a minor support level. On the M30 timeframe, the pair has also formed a Descending Broadening Wedge pattern, which signals potential continuation to the downside.
With this technical setup, USD/CAD is expected to move toward the next minor support level as its target price.
Recommendation:
- Sell USD/CAD
- Entry: 1.38238
- Take Profit: 1.37941
- Stop Loss: 1.38431
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
The best investment is an investment in knowledge. Start your journey to trading success with a Masterclass Trading Webinar every Friday. Join now!