USD/CAD Analysis - page 32

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The upward trend seems strong. Expecting it to continue in the next week.
 
Ari Goldman:
The upward trend seems strong. Expecting it to continue in the next week.
I thought so too, but USD/CAD formed a second bearish shooting star bar on the weekly time frame at the resistance at 1.3800. The possibility for another rally is decreasing, I think.
 
I opened a short position and set my target 1.3550. Depending on whether it breaks out below that level I may keep the short position open.
 
It broke out below 1.3550, I think it will continue falling to 1.3500 - 1.3480 at least. I am still keeping the short position open.
 
The Canadian dollar posted some gains against the US dollar. I'm expecting the downtrend to continue in the next week.
 
USD/CAD dropped to 1.3484 today. Depending on a breakout below 1.3480 I think it could continue dropping to 1.3400.
 
USD/CAD finally rebounded from 1.3385 today. I think it will retrace to 1.3460 - 1.3470, but I don't think this is the end of the downward trend.
 
The corrective movement to the upside reached all the way to 1.3500 before it ended. The pair started falling after a pair of bearish pin bars formed on the H4. I think it will test the last low at 1.3387.
 
Very difficult to trade that pair lately. 
 
Ari Goldman:
Very difficult to trade that pair lately. 
It's caught it in a tight range before the US Non-Farm payrolls on Friday. That should be the catalyst that prompts further development.
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