On the Daily timeframe, we can see the completion of wave 2 correction (a,b,c,d,e). Now looking forward for the next bull run.
Big consolidation happening since march 2020... Looking to see if it breaks down or continues to consolidate in a shorter-term move to the upside
I have reviewed many fundamental parameters and CAD interest rate is decreasing. also USD's interest rate is not changed more than CAD. THE currency pair ( USDCAD ) has broken the resistance level and it must retest it at 38.2% of Fibonacci retracement level. and then continue to rise about 1.31300 level or maybe higher ( but wait for economic data ).
The daily Head and Shoulder has been completed, I trust this will respect the pattern and go bullish Inverted head and shoulder pattern is a reversal signal! In this analysis I tried to make SL very tight though it shouldn't be following the rules of H&S But lets pray it didn't get to strike our SL quickly. Goodluck!