madsroland

madsroland

FX:USDCAD is slowly making a cup and handle formation. Trade at breakout 1.35133.

madsroland

We have an head and shoulder pattern on a 5M chart (not 15M as this one) USDCAD . It could be that it makes a small reversal after crossing the neckline to test it. Thereafter we could see a drop to 1.34421. Since it had such a strong up trend the last two days it could go event further down to 1.33940.

madsroland Updated 

Cup and handle is pretty clear here

madsroland

Looks like the shorters are heating up

madsroland

Lets see if this turns out as expected

madsroland

We will probably see it bounce back and forth now for a while. Before moving higher to the next level which is 10900. We are still in an upgoing trend.

madsroland

We can be looking at the short term pullback Afterwards we will see the next target at 10800 supported by the 1 day chart where we have an uptrend since the end of june

madsroland

The RSI indicating FX:GER30 being overbought so we could see a pullback to 10363. But if it breaks through the resistance area of 10705 then it could go to 10865. I will be in waiting position until we see a breakout.

madsroland

Next target will be around 10117

madsroland

Target before the next dip

madsroland

If it cant break though the next resistance level we will see a short posibility

madsroland

Short term long then it might go even further down

madsroland

BABA broke resistance level at 108 Target is now 115