USDCAD: Falling wedge

USDCAD, H4

On the H4, USDCAD formed a falling wedge pattern, and the price reached the upper trend line. At the same time, the price is testing extremely strong resistance and MA50. Meanwhile, the ADX indicates that the +DI has crossed the -DI.

• If the price breaks the upper trendline above 1.3730, a bullish scenario to 1.3850 will begin;

• A rebound from the trendline will bring USDCAD back to 1.3650.