Not much change here:
The USD/CAD pair is in a short-term down-trend after breaking below the neckline of a head-and-shoulders pattern.
It has now formed a consolidation, and although its going sideways currently, it will probably eventually break lower extending the dominant short-term down-trend.
A break below the 1.1939 – plus a 20 point margin for confirmation – so below 1.1919 could signal such a move.
An initial target for the move can be calculated using the height of the consolidation extrapolated down 100%, which gives a target of 1.1772.
Not much change here:
The USD/CAD pair is in a short-term down-trend after breaking below the neckline of a head-and-shoulders pattern.
It has now formed a consolidation, and although its going sideways currently, it will probably eventually break lower extending the dominant short-term down-trend.
A break below the 1.1939 – plus a 20 point margin for confirmation – so below 1.1919 could signal such a move.
An initial target for the move can be calculated using the height of the consolidation extrapolated down 100%, which gives a target of 1.1772.