After strong gains by the CAD and news of the USMCA the CAD is setting up for a bearish Gartley. RSI is nearing top levels. New pivots have been created. CAD having trouble staying above R2 at .78255. Estimate fall back to pivot and bottom channel.
Comment:
CAD came back to channel bottom and using pivot at .77020 as support. Might be good position for another upside move. If it breaks down and stays below the pivot at end of day would see a drop to S1 at .76255.
Comment:
CAD went through pivot today and left channel. Next downside target S1 at .76255
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Head and shoulders for CAD
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CAD drops from neckline. Target S1 at .76255
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CAD launches off of S1 and reverses course. Upside target cross pivot and enter into channel again.
Comment:
CAD still looks like it want to fall further beyond S2.