Head&Shoulder on USDCAD Targets 1.51/1.53! - Elliott Wave

Hello everyone.

USDCAD made an inverse head and shoulder formation from 2015 high, a powerful pattern, which can signal a new bullish recovery. We see a completed pattern at the 1.2955 level, from where bullish movement took over. The price also breached above the 1.3666 level, where a trend line is located, also known as a neckline. This breach is a confirmation that a bullish reversal is in full motion and can take price towards the price target at the 1.51/1.53 in weeks or months ahead.

Trade well,

The EW-Forecast team