USD/CAD, Waiting for the Call

It is no new thing that the United States and Canada share the same border and both are the largest countries in North America. At the same time they share the same border. It is not surprising that the currency is not that different in terms of exchange rate. I use line chart instead of candlesticks whenever I want to have an unbiased analysis and when I want to see the pointed rejection.

On a monthly Time Frame we can see that the USD/CAD currency pairs are actually in an uptrend that started in 2013. Consequently, we should be looking for a potential buy. A clearer picture will definitely be obvious in a lower time frame.

In a weekly Time frame we it is in agreement with the monthly on the uptrend. However, we can wee an obvious consolidation that started sometimes in 2022

On a daily time frame the currency pair is having its time in a symmetrical triangle

Four Hour Time Frame Revealing consolidation of the currency pair

On a 4Hour Time Frame we can see that the movement is between 1.38119 and 1.3216 region

I will personally be looking for a buy, but not until I see a clear call to that. No matter my analysis I respect the market and let it play its part, I let it do its thing. The call will definitely come.

NOTE: ***This is not a financial advice: Just my personal opinion do well to make a research before taking an trade ***

Posted Using InLeo Alpha

Posted Using InLeo Alpha