Is the Canadian Dollar about to be hockey sticked

Major bottom in the USDCAD (top in Canadian Dollar futures) is possible

I will let the charts speak for themselves with minimum commentary.

The monthly USDCAD chart shows that the USD is near historic lows to the CAD. The weekly chart shows a possible massive H&S bottom with a complex H&S bottom serving as the right shoulder. The weekly chart of the CAD futures displays a massive possible H&S top with a H&S top as the right shoulder. A decisive close by the nearby futures below the .9572 low is needed to complete this pattern.

5.17_CAD_weekly 5.17_USDCAD_weekly v2 5.17_USDCAD_weekly

#CANADA, $USDCAD

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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