Looking at a potential Inverted Head & Shoulders pattern forming on the USDCAD. I'm liking this pattern as Crude may also be forming a H&S pattern that would target the $43 range again. In addition, the Head of the pattern also sports a double bottom which helps support the direction of the move. With the close relationship between the CAD and Oil, I'm targeting 1.324 in the USDCAD and $44 with WTI over the next week or two.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.