Navigating the Turning Point: USD/CAD Trading Strategy
Over the medium term, the USD/CAD pair has carved out a consolidation center that is gradually shifting upwards. It is currently establishing support at the upper range of the pullback zone, signaling a potential continuation of the upward trend. Concurrently, it’s in the process of forming a high-level triangle adjustment following a rally, with prices retracing towards the lower bound. This suggests a short-term rebound demand. Tentative long positions may be considered.
Over the medium term, the USD/CAD pair has carved out a consolidation center that is gradually shifting upwards. It is currently establishing support at the upper range of the pullback zone, signaling a potential continuation of the upward trend. Concurrently, it’s in the process of forming a high-level triangle adjustment following a rally, with prices retracing towards the lower bound. This suggests a short-term rebound demand. Tentative long positions may be considered.