USD/CAD: fasten your seatbelts, because we are flying to Mars
On the 8H-timeframe chart, it can be observed that the price has dropped massively after printing long and ugly wicks to the upside and being unable to push further. This move was healthy and necessary for the price to re-test the previously penetrated key zone of 1.371.
Zooming into lower-timeframe charts, we may notice that the price is potentially attempting to form another shoulder and complete the formation of an inverse H&S pattern before launching a full-scale bullish move and aiming for the targets illustrated on the graph.
Zooming into lower-timeframe charts, we may notice that the price is potentially attempting to form another shoulder and complete the formation of an inverse H&S pattern before launching a full-scale bullish move and aiming for the targets illustrated on the graph.