USD/CAD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The upside trend that followed October's decline aided USD/CAD to shape a rising wedge pattern that now is almost 230-bar long. Whilst moving within the pattern's limits, the pair managed to attain a four year high of 1.0773 for two times and at the moment of writing the pair was vacillating close to this peak. However, considering the SWFX data, the pair is not likely to extend its gains in the foreseeable future as about 60% of traders are betting on depreciation of the currency couple.
© Dukascopy Bank SA
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