FX.co ★ USD/CAD

USD/CAD daily H1 timeframe chart Greetings. The concept of fractality, which refers to the resemblance of graphical patterns, becomes evident in the analysis of market movements. Specifically, when examining two pivotal points and subsequent price action, candlestick patterns often exhibit strikingly similar fractal shapes. The first occurs as prices descend from the extreme point, marking the beginning of the pitchfork handle. The second arises as prices form the initial point of the upper line of the pitchfork. In both instances, there is a noticeable trend of gradually decreasing maximum i I,inculminating in a breakdown of the pattern's base within USD/CAD daily H1 timeframe chart the price zone of 1.3679. to This breakdown indicates a continuation of the downtrend within the broader daily trend framework. Given the current this phenomenon persists. The upcoming week holds a heightened appeal for me, primarily because we've reached and seemingly stalled at the 40.4 level on the Fibonacci grid. Breaking through further appears contingent upon a substantial news catalyst, preferably of three-star caliber, impacting both the Canadian and American dollars. Such a development is crucial for executing our trading strategy. On a different note, scalpers have found success, leveraging intraday pivots effectively. Shifting focus to the daily chart, Friday saw the formation of a bullish pin bar, signaling potential for an upward trajectory. This confluence of factors underscores the opportunities and complexities within the market landscape.

lower the from rebound a was there fact In. USD/CAD in increase an cause likely will index the, value percent 80 the above rise to movement of direction the on decide finally USD/CAD daily H4 timeframe chart can you which, through breaking upon, 1.3682. resistance and support of lines two are there moment the at me for Therefore. There price the with ends often very testing; discounted be not should this and at support testing; movement of direction the on decide finally can you which, through breaking upon, resistance and support of lines two are there moment the at me for Therefore. There price the with. Typically, when the lower boundaries are breached, it's followed by breaches of the upper boundaries. However, in this instance, a departure occurred from the upper boundaries to the lower boundary, marking an unusual decline. Unlike previous scenarios, there was no elimination of seller's stops, leading me to anticipate an immediate breakthrough of this support level towards lower support at Surprisingly, the pair rebounded from the lower boundary, retracing back to the mid-range. From this midpoint, sellers began accumulating significant volumes, a phenomenon unprecedented in prior occurrences. Once more, I speculated on the pair's potential downward trajectory, only to witness the removal of seller's stops. It appeared that the pair had resumed its downward movement. USD/CAD daily H4 timeframe chart