USDCAD- 25Jan2022USDCAD- 25Jan2022
On the daily, price bounced above and flirted with the 50MA before facing bearish pressure and closing back below the neckline. Today's closing will be crucial to monitor. If the price close back above the neckline, the h&s will be invalidated.
On the H4, price flirted with the 200MA before pulling back. It is now finding support at the neckline. Stochastic is also at resistance level therefore today price action will be important to monitor as this might invalidate further downside potential.
This is for personal record purposes only, not financial advise or solicitation of trade.
