Seems that a head and shoulder pattern has formed. although quite pointy shoulders.
The volume at the 'head' is more than twice the average.
The entry is as indicated which is later in order to confirm direction.
The target to reach is before the next earnings.
Looking at the first two Fibs where both of the extensions have reached 1.618 might be an indication of a reversal. At $233 the situation has to be reviewed to see if the reversal continues down (the pink arrow) or it turns into an Elliot wave and goes up (green arrow)
Seems that an inverted head and shoulders has formed.
Fundamental analysts also have a buy rating on this.
But above all, read the news - on the right side when displaying the watch list, just below the price.
FX:USDCAD
It seems that the USD/CAD is in a channel. If the move bounces off of the resistance for the third time and the Chande momentum is above 60, then it will likely be going to the support and bouncing off from that point (and Chande momentum is below -60). This will also be the third bounce from the support. The idea that the third bounce counts is based...
