USD/CAD Daily Video, December 07, 2016

[Sive Morten]

Good morning,

today we will take a look at CAD instead of gold, since it is forming very interesting setup:




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Davidovic]

Hi Sive, do you think upward retracement is still possible? It is dropped trough the the S1 and the neckline...

 

[Sive Morten]

Hi Sive, do you think upward retracement is still possible? It is dropped trough the the S1 and the neckline...

Hi, there is no signs of reversal yet, except may be shy hint on 3-Drive. I would say that some chances still exist. But if you indend trade it long, it is better to wait for clear reversal pattern there. Our initial trading plan on CAD doesn't suggest any buy trades with this H&S...