USD/CAD could soon make a semi-sharp move once a wedge triggers on the 4-hr. If it triggers higher a squeeze could develop towards 12950, while a trigger to the downside is seen as bringing 12840 into play in short order.

For the full set of details, please see the video above…

USD/CAD Daily Chart

usd/cad daily chart

USD/CAD 4-hr Chart

usd/cad 4-hr chart

USD/CAD Charts by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

—Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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