The overall
USD/CAD trend is obviously very bearish. That said, the pair has formed a
hammer candlestick on the four-hour time-frame and a spinning top candlestick
on the daily time-frame, both at the support at 1.2545, which is a relatively
good signal that there may be some retracement to the upside before the pair
continues falling. If there is, indeed, such a retracement, the pair will
probably move to the upside towards 1.2640 or even towards 1.2700. On the other
hand, if or rather when the overall bearish trend continues there will likely
be a further drop towards the next target around 1.2500.
I think it will fall below 1.2500.
ReplyDeleteThe pair bounced from the lows.
ReplyDeleteJust a pullback before another move downward.
ReplyDelete