Is USDCAD head and shoulder in play?
Hello traders
Hope you guys are having a fantastic week. Last day of week is here and month is almost done too.
Let's take a look at USDCAD.
Weekly : Bearish. Chikou below price but we have to see tomorrows close. Macd is crossed down and price is below kijun,
Daily: Below Kumo. Below TK. Macd is crossed down and chikou below price. Bearish. There is also a head and shoulder with shoulder arnd 1.35 and neckline has been tested. Price is currently at trendline. If this pattern is in play, target is much lower.
We'll see how this one plays out. I am trying to post as simple of analysis as possible. There is no point over complicating things. Keep it simple and follow ur plan and rules.
Thank you for reading and follow.
Cheers
Hope you guys are having a fantastic week. Last day of week is here and month is almost done too.
Let's take a look at USDCAD.
Weekly : Bearish. Chikou below price but we have to see tomorrows close. Macd is crossed down and price is below kijun,
Daily: Below Kumo. Below TK. Macd is crossed down and chikou below price. Bearish. There is also a head and shoulder with shoulder arnd 1.35 and neckline has been tested. Price is currently at trendline. If this pattern is in play, target is much lower.
We'll see how this one plays out. I am trying to post as simple of analysis as possible. There is no point over complicating things. Keep it simple and follow ur plan and rules.
Thank you for reading and follow.
Cheers