USD/CAD 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since early December, USD/CAD has performed a noticeable advance that now represents a part of the 75-bar long double top pattern. Currently, the pair is moving towards its 200-hour SMA that is lying below the pattern's support that was breached several hours earlier. The 200-hour SMA is acting as the last defence from a sharp depreciation of the pair that has been almost inevitable after the currency pair broke through the lower limit of the pattern. Considering the SWFX data, the pair may drop below this significant level before long as 58.54% of traders bet on depreciation of the pair.
© Dukascopy Bank SA
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