tradewithhedge
Long

USD/CAD near long-term profit zone

FX:USDCAD   U.S. Dollar/Canadian Dollar
USD/CAD             reacted very well to the formation 'Head and Shoulders'. 1.1571 is 200% fib measurement of the low of the right shoulder and the high of the high shoulder. Also to keep in mind we have a 0.618% fib very close (fib of the 2011 low and 2009 high). On the other hand, to give us even more support of this zone, we have a very clear trend line (blue line) which we can see a nice reaction from it.

So, lets see what happens when we get there, keep this levels in mind and we might correct from it.
nicely done
+1 Reply
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