Two new observations about USDCAD

FX:USDCAD   U.S. Dollar / Canadian Dollar
20 0 1
1-Major trend channel was broken since Aug 12th. Now, there seems to be a bounce back to the channel however it did not succeed so far. The price has bounced back sharply at 2 major trend channel upper line cross point (red and blue colored channels on the chart).
2-The advance from Aug 12 up to today was rather chaotic and there is no wave count (see polygon on chart). This can be called only erratic which is typical for correctional moves.

Notes: The previous H&S formation is Invalidated. Also the possible ABC formation in our previous analysis is invalidated now.

Summary: Watch whether price can pierce thru the highly potent trend channel cross point at around 1.33. All in the hands of oil             . If oil             drops further this would be a possibility.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 Contact Support Ideas Published Followers Following Private Messages Chat Sign Out