Rising wedge at the upper narrowing trend channel line hitting a strong Resistance zone. Shall go down
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Down turn occurred as predicted. Still believe that we have a large scale Head and Shoulders formation. Not wise to long USDCAD, until this formation is invalidated. Cheers
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Price is approaching the lower trend line (shown in cyan). The 1-5 formation needs to complete in order to evaluate whether the price will go back up or else. Stay tuned for further info.