© Dukascopy Bank SA
During the last two months we were observing the appreciation of the greenback versus its Canadian counterpart. The fact the during the last two weeks the pair was changing hands close to the pattern's resistance level, as well as aggregate technical indicators on 4H and 1D charts, which are sending "buy" signals, are suggesting sooner or later the penetration of the upper trend line will occur. In this case higher prices and increased trading volumes can be expected.
© Dukascopy Bank SA