YMI

USD/CAD - H&S Pattern

Kort
FX:USDCAD   USA-dollar/Kanadensisk dollar
I continue to hold a bearish Bias on this pair which I discussed last week

There has been lots of volatility on the US dollar which has lead to choppiness on USD/CASD pairing

As we continue to consolidate below the 1.325 key level we have now also formed a potential H&S pattern

If we see a break of the neckline at 1.3190 I believe we can see a continuation to the downside

First level of support at 1.3090 provides an inital TP level before seeing a continuation lower to print a new low at the 1.3000 monthly support

Stops can be placed above the prior swing high as if we see a 1D closure above I will abandon the bearish bias for the time being

*This is NOT financial advice*

Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.