USD/CAD: GREAT SMOKY MOUNTAINS ARE FORMING

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USD/CAD: GREAT SMOKY MOUNTAINS ARE FORMING

Going to USD/CAD , we can clearly see that we've touched the upper boundary of a multi-month channel yet once again. Moreover, we can clearly see that we have fully developed "Left Shoulder" and "Head" for H&S pattern. All we need for completion of this mountain system is a "Right Shoulder". If/when it's properly formed it's time to execute our short position, all the way to 1.255 which is also a major support zone in addition to being the lower limit of our channel.

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