Similarly to the GBP/USD trade, the has found resistance and is re-testing in the form of a . Within the re-test we can find a formation. Price has already hit our D point but I am now monitoring the 4 hour and 1 hour charts for an entry.
I'm currently simultaneously monitoring U.S. Oil and the Canadian Dollar . The value of the Canadian Dollar relies heavily upon the value of oil since this is their main export, so should the value of oil drop, the CAD more often than not follows suit. There's currently a potential on the USD/CAD (see below) which, indicating a weaker Canadian Dollar , would compliment this setup on Oil . Another idea containing full analysis will be posted for the .
Shark ratios are as follows:
C = 1.13-1.618
D = 1.618-2.24
X to D = 0.886-1.13