USD/CAD Analysis - page 29

New comment
 
USD/CAD has formed a pair of bullish spinning top bars and an inverted hammer bar at 1.3315 on the H4 time frame, I think that may have been the end of the current move to the downside but the breakout below the flag that has been developing for months now on the large time frames suggests a long-term drop.
 
USD/CAD climbed back to 1.3380 and has formed a spinning top bar at that level on the H4 time frame, so I think we'll see a new move to the downside as part of the developing consolidation.
 
The pair also formed a doji bar on the H4 time frame right before the market closed yesterday, I think next week we'll see a move to the downside.
 
I believe it or continue go long this week
 
The pair has been consolidating since last week, forming a barbed wire pattern and so far there is no indication that the range will end. So far I still haven't opened any positions without a breakout.
 
USD/CAD is making yet another attempt to break out below 1.3300. If it finally does I think it will reach 1.3250 - 1.3240.
 
USD/CAD reacted bearishly to today's CAD news. The pair is now 1.3335 down from 1.3372. Consolidation continues for now.
 
USD/CAD decisively rebounded from 1.3300 and rallied toward 1.3450, but it has not been able to break out above that resistance for the moment. If it does I think it will reach 1.3500 - 1.3530.
 
Not only the resistance at 1.3450 remains unbroken, but the pair formed a bearish shooting star bar at that level on the daily time frame. A pullback is possible before it continues moving to the upside.
 
The hourly timeframe shows some bearishness
1...222324252627282930313233343536...62
New comment