USD/CAD Analysis - page 9

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USD/CAD is falling again after the big drop caused by the NFP last week. I think next target is likely 1.2880 - 1.2870 and it will likely continue falling below those levels.
 
Not only did USD/CAD reach 1.2870 but it continued falling, breaking below 1.2800. It's testing 1.2770 at the moment and if it breaks below that level it will reach 1.2700.
 
I am waiting to see whether the pair will break above 1.2770 so I can open a new long position, but I think this might be just a retracement before the move to the downside continues.
 
USD/CAD is clearly forming a flag after the big drop, so my suspicions from yesterday are confirmed, I think. Once the flag is over, the move to the downside will continue.
 
Bullish on this pair.
 
The flag continues forming today. GBP/USD formed an inverted hammer on the four-hour time frame above the support at 1.2760 and started rising again. I think next target is 1.2810 - 1.2815.
 
USD/CAD finally reached the resistance at 1.2870, which is (EMA)89 on the four hour time frame. The pair could bounce off of it, but if it breaks above it next target is at 1.2930, which is the middle line of the Bollinger Bands indicator on the daily time frame.
 
The USDCAD may find some resistance at the 1.2900 level, but the pair has not taken a clear direction in the middle term. The USDCAD may go into a range.
 
The pair formed a shooting star candlestick and a spinning top candlestick underneath the resistance at 1.2870 on the four-hour time frame and started falling. I think next target is 1.2800.
 
Despite the short retracement USD/CAD is still very bullish. The pair broke above 1.2900 and I think next target is 1.3000.
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