The USDCAD has experienced a bullish breakout through resistance in an Ascending Triangle pattern. The target is set at 1.3618.

The trading configuration was spotted on the USDCAD currency pair. The USDCAD’s price has transcended the resistance line of an Ascending Triangle pattern on March 22, 2024, at midnight. A potential bullish price movement is predicted for the subsequent three days, heading towards 1.3618.

However, the visual quality of this pattern is not impressive. The initial trend of the price before this trading configuration formed was considerably weak, suggesting it may have originated from a chaotic market. The breakthrough of the resistance was also feeble. It’s recommended to await further verification of this breakout before initiating a position.

It’s worth noting that no economic events appear to be scheduled within the forecast period that have historically influenced the volatility of USDCAD.