Thursday, June 11, 2009

USDCAD HEAD & SHOULDERS PATTERN


The USD/CAD has formed 3 part Head and Shoulders formation on 4 hours chart. The pair has almost completed the third leg of the Head and Shoulders formation, but needs to break the 1.0950. The support comes at 1.0784. Head n Shoulders target is 1.0610 (340 pips from the neckline) in the coming days.