The currency pair Canadian dollar against the US dollar USD CAD continued to grow, but it is worth remembering about the test downward trend line on the four-hour chart the pair that could provoke the fall of quotations USD CAD to below 1.30.
Forecast USD/CAD Canadian Dollar on July 22, 2016
An additional benefit of the fall is the signal of a reversal pattern forming head and shoulders on the hourly chart of the Canadian dollar. However, try to sell only after the neckline breakdown below 1.3030 area. Cancellation option drop in prices USD CAD will be strong growth above the level of 1.31.
Forecast USD/CAD Canadian Dollar on July 22, 2016 suggests an attempt to fall within the mining reversal forex head and shoulders pattern.
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1 Comment
Take a look at the 5 year chart. There is a beautiful head & shoulders ready to break down any day now.