USD/CAD Continued Rising

Despite the multiple shooting star candlesticks that USD/CAD had formed on the four-hour time-frame below 1.2985, as well as the one on the weekly time-frame, the pair did not move to the downside. Usually such candlesticks are a good signal for a reversal of the current movement, but obviously there are exceptions and this was definitely one of the exceptions. The pair continued moving to the upside and rose above the last high at 1.3000. Currently USD/CAD is still quite bullish and that movement to the upside will probably continue. If it does it will probably next reach 1.3100 and perhaps even break out above that level.