USDCAD has given a good breakout from falling trendline from its top. Now it is trading in channel pattern, as you can see in the chart. Within the channel pattern, it is forming head and shoulder pattern, which is a trend reversal pattern, so we might think it will show downside after breaking the neckline of the head and shoulder pattern. Its target on the downside is a support line for channel pattern.
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Vivek
have half a decade of experience as a trader and enthusiastically learning & developing new strategies and convert it into algorithm trading & also analyzing the companies with ESG method.
