Previously USDCAD was in an impulsive phase from the beginning of March to mid March . Now the big question at the moment is what chart pattern is it currently making ,whether a continuation or a reversal chart pattern and the answer to that is "continuation" . USDCAD's behaviour in this consolidation phase had no characteristics of a reversal (There's no reversal chart pattern that looks like this) , so when i put trendlines on the outer most highs and lows I found out that USDCAD was in a falling wedge formation and I have two opportunities to go long.
1. The very bottom of the falling wedge
2. At the retest of the support zone after breaking out of the trendline on top and the resistance
1. The very bottom of the falling wedge
2. At the retest of the support zone after breaking out of the trendline on top and the resistance