Quoting PipTrapper;5774301[BDisliked]Big wet kiss[/b]? No way man. I'm not explaining anything now.
It's quite simple really. I've seen it before. look at all the other main CAD crosses such EUR/CAD, GBP/CAD, AUD/CAD & CHF/CAD. They are all rallying along side the same USD crosses.
So if EUR/CAD and EUR/USD rally at the same pace, then it quite obvious that USD/CAD stays flat.
Add to that the fact that what's bad for USD is bad for CAD, and don't discount intervention by BOC coz a strong CAD against USD is not good for the Ontario manufacturing sector.
Besides, the USD/CAD is well supported at current levels for technical reasons.
Falling wedge and 55 Day ema coupled with historical support.
I'm not saying it won't fall but so far it's holding.
...and yes, this could very well be an H/S pattern about to collapse.
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Your chart is also showing a falling wedge which when formed at the top of a upwards trend is a continuation pattern and would then, of course, negate the head and shoulders.
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I observe your reality but live my own.