USDCAD - Inverse Head and Shoulders - 10.8.2015

USDCAD – On the daily time frame. A few technical factors need to be highlighted in order to establish a bullish argument.

First, we have the pair breaking out of the resistance at 1.28 zone.

Second, we see an inverse head and shoulders having been formed and if based on classical chart patterns, the upside could be extrapolated to the 1.36 region.

Buy this pair if it falls on a support level with a good price action signal having been formed. That will be the most ideal.

To your trading success!

~ Ardy