USD/CAD – Inverse head and shoulder on 4-hr chart

FX:USDCAD   U.S. Dollar / Canadian Dollar
A textbook inverse head and shoulder is being formed on USD/CAD             4-hr chart with neckline hurdle at 1.3025.

  • Rebound from Oct 15 low of 1.2832 seen today followed by a jump to daily 50-SMA coupled with bullish RSI on 4-hr and daily time frame indicates increased odds of the pair moving towards 1.3025 levels.
  • However, bulls need to observe caution as 23.6% Fibo of 1.4690-1.2461 could play a spoil sport, although support at 1.2771 is likely to prevail even if sell-off gathers steam from the current rate of 1.2940.
  • Only a break below 1.2771 signals bullish invalidation.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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