USD vs CANADIAN DOLLAR: Congestion before breakout

Discussion in 'Forex' started by BORAMOR, May 5, 2025.

  1. BORAMOR

    BORAMOR

    The pair is showing ST congestion within a dual purpose pattern.

    usdcad daily 21.jpg
     
  2. zdreg

    zdreg

    Conclusion? breakout in which direction?
     
    Last edited: May 5, 2025
  3. hahaha thats the fun part, which direction, but with all seriousness the USD seems to be in shambles right now. looking forward to the middle east visits if by any chance things happen positively.
     
  4. Long CAD target 136.0006
     
  5. kroxobor

    kroxobor

    Lower in my view, since we have descending triangle at the chart which signifies dominance of selling pressure.