The3MBlueprint

Potential Sell on USDCAD 8H

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
The USD has been on a bullish run with no seeming intent to stop. However there is a potential head and shoulders setup that is more easily seen on the 8H timeframe that may indicate a possible selloff to recover some imbalance. The TDI also shows a potential turning to the downside as it is over the 60 level. The current pullback will give a better entry with stops above the right shoulder at 1.3022

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.