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USD/CAD Analysis - page 13

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USD/CAD found some support at 1.2855 and bounced off of it after forming a double bottom and a spinning top candlestick on the one-hour time frame. I think its next target is likely 1.2970 - 1.2980.
Neutral on this pair for now.
The range is getting tighter on the USDCAD. At the moment, the 1.2900 is acting as support and the 1.3000 as resistance.
USD/CAD just broke above 1.2980. I think the move to the upside will continue and we will see it reach the resistance zone around 1.3110 - 1.3120.
The pair is still struggling to break above 1.3020, but unless it forms a double top here the move to the upside will continue, I think.
Bearish on the pair.
The pair bounced off 1.3095 and the last closed candlestick on the four-hour time frame is a doji, I think there will be a move to the downside towards 1.3000 - 1.2990.
The pair also formed a shooting star candlestick on the four-hour time frame below the resistance at 1.3095, but the pair is still consolidating sideways. Time will tell whether these signals are valid or not.
Bullish on the short-term.
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