USD/CAD 4H Chart: Triangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been narrowing trading range since the middle of June  and formed a Triangle pattern. It has a well above the average quality and magnitude ratings which identifies great trading opportunities., both on planned movements and on volatility. At the moment the pair is trading in the last 20% of the pattern's length. As a consequence we should be very aware of the breach of the pattern's boundaries (mostly due to the high magnitude rating which points at increased probability of volatile periods). However, short and medium term technicals give neutral outlook suggesting that bullish breach, as suggested by the long term technical, should occur only after some time.

© Dukascopy Bank SA
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