USD/CAD’s 4-hour chart shows the pair is trapped in a symmetrical triangle. The outlook would turn bullish if the triangle is breached to the higher side. USD/CAD is currently trading in the red near 1.42, having found offers near 1.4260 an hour ago. The pair is trading in a contracting triangle, popularly known as the symmetrical triangle, as seen on the 4-hour chart. A break above the top end of the triangle at 1.4260, would confirm a breakout and open the doors to 1.4349 (triangle high) and 1.4382 (61.8% Fibonacci retracement of 1.4667/1.3921). A triangle breakout would also confirm an upside break from the falling channel that has been in place since March 18. Alternatively, a symmetrical triangle breakdown would imply a continuation of the decline from 1.4667 and may yield a sell-off toward 1.3921 (March 27 low). 4-hour chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BOJ offers to buy JPY350bln worth of 5 – 10-year of JGBs FX Street 2 years USD/CAD's 4-hour chart shows the pair is trapped in a symmetrical triangle. The outlook would turn bullish if the triangle is breached to the higher side. USD/CAD is currently trading in the red near 1.42, having found offers near 1.4260 an hour ago. The pair is trading in a contracting triangle, popularly known as the symmetrical triangle, as seen on the 4-hour chart. A break above the top end of the triangle at 1.4260, would confirm a breakout and open the doors to 1.4349 (triangle high) and 1.4382 (61.8% Fibonacci retracement of 1.4667/1.3921). A triangle breakout would also confirm an… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
