Short Term Bullish Move USD/CAD 4hr-1hr

The pair has been in a 100 pip range from early last week. Finding support at the 1.28500 and resistance at 1.29300 a significant 0.5 fib level from 2017 May highs and september lows. Looking for a short term bullish break above 1.29300. RSI is middling at 50 on a daily chart down to the 1 hour chart.

Entry price at 1.2750
Stop at 1.2830
Limit 1.3000
Ratio 2.7:1

Yorum:

With a longer term potential Head and Shoulders pattern emerging from the slightly upward sloping neckline at 1.28- 1.285. Look to short the pair at previous 1.3 resistance right shoulder.