The USD/CAD
consolidation may be over because the pair formed a hammer candlestick above
the support at 1.2920 on the daily filter chart and the pair moved to the
upside again. It is currently testing the resistance at 1.3050. Should it
manage to break above that resistance the pair will probably continue rising
towards the previous high, which is at 1.3100 and is also a considerable level
of resistance, but if the pair manages to break above it I think we can safely
conclude that the bullish trend will continue.
I am totally agree with your analysis.
ReplyDeleteThanks for the review, I'll keep an eye on developments.
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