TRDVMA

A plausible USDCAD scenario

FX:USDCAD   U.S. Dollar / Canadian Dollar
48 1 1
As shown on the chart, a H&S formation is quite plausible. If this scenario is realized then the area around 1.28-1.29 would be a fantastic point to enter long. There are some indications that the market is playing the H$S game. We'll wait and see.
Note that the price is dancing around some heavy resistance zones ( trendlines and resistance areas as shown on the chart), thus it is more unlikely than not that the market will pierce through this heavy resistance, but more probably will make another low point (a Right Shoulder), before turning the bear trend the other way around. Good Trades.
snapshot


Finer detail update for possible Right Shoulder bounceback point
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