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Forex: USD/CAD Technical Analysis – Triangle Setup Favors Upside

Forex: USD/CAD Technical Analysis – Triangle Setup Favors Upside

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A Triangle chart formation hints at uptrend continuation ahead
  • Pushing above 1.0699 (Triangle top) initially exposes 1.0736 (Dec 19 high)
  • Below support at 1.0629 (Triangle bottom) targets 1.0605 (23.6% Fib ret.)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-cad_body_Picture_11.png, Forex: USD/CAD Technical Analysis – Triangle Setup Favors Upside

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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