#USDCAD #CXY Cad index gaining strength, UCAD going to push lower to the .5 fibonacci level. We're stuck in this rising bearish channel on the 15 minute chart and we have been consolidating here for 24 hours. Follow my instagram for earlier updates, I do not post on tradingivew often @galluzzo_trades
USDCAD retested RED trendline and has shown us clear rejection. We are now ready to open a short position and ride it down towards the next major support line
Here is my bias, not advice. On the larger time frames (daily, weekly) I am BEARISH on this pair.
Here is the 4 hour chart and we are looking at a descending channel. Price has bounced beautifully within this channel which has given my conformation.
A bearish shark harmonic pattern has formed indicating a sell.
We also have a rising wedge and a break on the hourly...
EURUSD has been in this falling wedge for months on end and we finally had a breakout three weeks ago. It broke and hooked back down to old resistance to retest that zone and it needs to form new support against that trendline. On the 4hr chart a bullish cypher formed indicating a buy. On Wednesday 6/19/2019 we have FOMC news (Federal Reserve) to discuss monetary...
It is important to establish the existence of a prior downtrend for this to be a reversal pattern. Without a prior downtrend to reverse, there cannot be a Head and Shoulders Bottom formation.
