EUR/CAD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Despite the fact EUR/CAD has recently penetrated the upper boundary of the 113-bar long rising wedge pattern, it may be too early to talk about the breakout, especially given that the currency couple once attempted to exit the area bounded by the wedge but after a two-hour long vacillation below the pattern's support the pair went back to the pattern's territory.
However, market players are confident the pair will be able to consolidate at the five-year high of 1.5122 and prove the breakout was real; about 85% of traders bet on further appreciation of the pair.
© Dukascopy Bank SA
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