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Jonathan_Connolly

Short Term Bullish Move USD/CAD 4hr-1hr

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Jonathan_Connolly Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns
2
0
trendanalysis chartpattern
The pair has been in a 100 pip range from early last week. Finding support at the 1.28500 and resistance at 1.29300 a significant 0.5 fib level from 2017 May highs and september lows. Looking for a short term bullish break above 1.29300. RSI is middling at 50 on a daily chart down to the 1 hour chart.
snapshot
Entry price at 1.2750
Stop at 1.2830
Limit 1.3000
Ratio 2.7:1
Comment:
With a longer term potential Head and Shoulders pattern emerging from the slightly upward sloping neckline at 1.28- 1.285. Look to short the pair at previous 1.3 resistance right shoulder.
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