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Bearish H&S On USDCAD

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August 30 2016

On USDCAD we are looking at a big bearish headed and shoulders pattern with more upside possible in September, towards 1.3440 resistance area where upside can be limited as we think that this pair formed an important top at 1.4700 mark in January of this year.

You know what is good thing about old school analysis, such as H&S pattern? That you can apply it very well with Elliott Waves. The question is, do you see the EW pattern? It's pretty clear to me; wave A down, now wave B up, so wave C down yet to come.
Grega





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