USD/CAD 1D Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Greenback-loonie cross has been in an uptrend since the September, 2012. The pattern at hand started on the January, 2013 and at the moment the pair is on its way towards the pattern's support and trading almost exactly on  the 100-day SMA. Pattern's quality is just slightly below the average  due to the few volatile periods in the middle of the pattern. It is rather important that the trading volume lately seems somewhat higher. Combined with well above the average magnitude rating of the pattern we could expect some major moves. As suggested by the medium and long term technicals it seems unlikely the pair will breach the pattern's boundaries.

© Dukascopy Bank SA
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