Autochartist Forecast
USD/CAD Moving Lower within Falling Wedge
The 60 minute USD/CAD has formed a Reversal Falling Wedge. However do not assume that the trending chart pattern will continue or reverse. Instead observe the levels to determine which trend will take place. As can be seen the wedge is trading within the bottleneck of the chart pattern with a continued strong Trend Reading (T).
With such a solid downtrend there is a chance of the pattern not offering a bounce to the resistance line (R). The trend may travel lower and break through the support line (S) resulting in a breakdown continuation short.
Source : yvette@autochartist.com (Yvette le Roux)
12 November | 
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