Looking at a potential Inverted Head & Shoulders
pattern forming on the USDCAD
. I'm liking this pattern as Crude may also be forming a H&S
pattern that would target the $43 range again. In addition, the Head of the pattern also sports a double bottom
which helps support the direction of the move. With the close relationship between the CAD and Oil
, I'm targeting 1.324 in the USDCAD
and $44 with WTI over the next week or two.