DamianJordan
Short

USDCAD weekly swing trade

FX:USDCAD   U.S. Dollar/Canadian Dollar
46 0 1
Price is currently pulled back to the 38.2 fib retracement level of the overall bullish move. Price is also sitting at a support zone (blue box) and recently broke through an accelerated trend line . We may look for a slight bounce off this zone and retest the broken trend line . This pull back would line up with a 38.2% retracement of the most recent bearish move.
This pull back to the 38.2 level would complete a weekly head & shoulder pattern. There is also some divergence on the momentum indicator ....indicating an upcoming shift in price towards the down side.

Entry would be on a pull back to form the peak of the right shoulder and we would target the primary fib extension levels which align with our base trend line .
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out