USDCAD DAILY BACK INTO 1.3040.
Looking at the larger picture we can see that ultimately we are stuck in a range, however as price continues to trade within the range we can see price form patterns giving us opportunities to use in order to make a profit!
The main pattern we are seeing at the moment is a inverted head and shoulders formation with the neckline being 1.3320, I will be executing entries along our descent into our right shoulder support on the 4H and 1H intraday timeframes in which analysis and write ups will be constantly sent to the team with each entry that is made!
A break above the neckline and into new highs will invalidate the set up and we can therefore look for longs into new yearly highs!
Comment your thoughts on the analysis above!