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FX.co ★ AUDCAD M5: Head and Shoulders

AUDCAD M5: Head and Shoulders

The technical pattern called Head and Shoulders has appeared on the chart of AUDCAD M5. There are weighty reasons to suggest that the price will surpass the Neckline 0.9556/0.9555 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.9540.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the patterns list Go to graph