USDCAD: a clear example of Head and Shoulders pattern

FX:USDCAD   U.S. Dollar / Canadian Dollar
53 0
After forming bearish head and shoulders pattern, USDCAD clears the neckline to the downside targets.

one of the basic characteristics of Head and shoulder pattern is the ease of spotting targets as you can calculate expected targets by measuring the price range between the head and the neckline. As spotted here on the above chart, it's clear that the measured target achieved and USDCAD finds a little support after.

Hope you enjoyed this quick review of Head and Shoulders pattern
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