USDCAD
The pair made a great move upwards with explosive momentum, but within a single upwards trend channel. That channel can be represented on the chart and we can see the exact formation. The price reached the upper resist level from the same channel and also the resist(support) level from the horizontal previous trend. The price should go down a little bit, forming a accumulation zone in the resist(support) zone to take momentum into the next explosive upwards movement.. The price will reach the upper resist line, in certainty, but also the price may go upper to the z-resist line ( seen from the bigger picture ).
Good luck !
Please leave a comment below !
The pair made a great move upwards with explosive momentum, but within a single upwards trend channel. That channel can be represented on the chart and we can see the exact formation. The price reached the upper resist level from the same channel and also the resist(support) level from the horizontal previous trend. The price should go down a little bit, forming a accumulation zone in the resist(support) zone to take momentum into the next explosive upwards movement.. The price will reach the upper resist line, in certainty, but also the price may go upper to the z-resist line ( seen from the bigger picture ).
Good luck !
Please leave a comment below !