USD/CAD had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.13871 in weekly time frame which is fixed by descending candle. Currently in some time frames such as monthly, H4 price is under 5-day moving average (a consistent downtrend) and there is not any clear reason about ascending of price in these time frames.
As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is weekly time frame which generally warns the possibility of changing price direction.As it is obvious in the picture below, between the bottom price of 1.06102 and the top price of 1.13871, there is an ideal AB=CD harmonic pattern with the ratios of 50 and 200 that warns about the potential for a price downfall from the D point.Generally according to the formed signs in the price chart until the resistance level of 1.13871 is preserved , price has the potential for reformation in this currency pair.
As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is weekly time frame which generally warns the possibility of changing price direction.As it is obvious in the picture below, between the bottom price of 1.06102 and the top price of 1.13871, there is an ideal AB=CD harmonic pattern with the ratios of 50 and 200 that warns about the potential for a price downfall from the D point.Generally according to the formed signs in the price chart until the resistance level of 1.13871 is preserved , price has the potential for reformation in this currency pair.