June Canadian dollar is having a tough time rising significantly. Oil prices are in overbought secenario, but is still bullish. The USD is hitting higher points. A bull flag may be appearing on the CAD, or an Head and shoulders. Down day Friday and has sunk below the 20 day MA. Pivot at .78410 is becoming resistance. If the CAD can stay above pivot, there should be more upside. Will know Monday on a possible direction.
Comment:
CAD starting to round out the last shoulder. So far H&S looking good.
Comment:
We are still in a H&S for CAD. More right shoulder continues to build out.
Comment:
CAD broke lower heading toward S2 and H&S Neckline.
Comment:
CAD made S2. New target around S3 at .75840