A Head and Shoulders Top (bearish reversal pattern) appears to be forming on the USD/CAD daily chart. The pattern appears after an uptrend and is defined by three successive peaks, with the middle peak (head) being above the other two (shoulders). The successive lows after the peaks of the left shoulder and head form the neckline, which represents support. The Head and Shoulders Top pattern is completed if price breaks below neckline support. The Canadian dollar has been boosted by an uptrend in crude oil dating back to June of 2017. Crude oil is among Canada’s largest exports to the US. Meanwhile, the US dollar has ... (full story)