VietnamGold
Short

USDCAD - Head and Shoulders Pattern

FX:USDCAD   U.S. Dollar / Canadian Dollar
The pair USDCAD             has formed a head and shoulders pattern on the 4h chart.
1.3000 area seem like strong resistance while 1.2700 will provide good support.
The price has broken the support trend line , also acts as the neckline of the head and shoulders pattern.
A short is recommended once price will retest the neckline and resistance @1.3000 with a stop loss @1.3070 and take profit @1.2750.

Stay Tuned.
Comment: Price has accelerated to the downside. Currently trading @1.2810. Target will be reached in a day.
Trade closed: target reached: Target has been reached this Asian morning session. USDCAD touched 1.2700 and bounced to 1.2810.
Trade active: It was a mistake this morning. Trade is still active.
Trade closed: target reached: Price reached 1.2750


Price dropped likes its hot, as exactly as pattern revealed.
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