USD/CAD Analysis - page 8

no clear direction on the USDCAD, but the pair may go higher before coming back to its bearish trend in the longer term.

Good breakout today! 

It was a false breakout, the pair is back to testing the support at 1.3120. If it breaks below that level I think it will reach 1.3070.

USD/CAD formed a hammer candlestick on the daily time frame above the support at 1.2970, which is the middle line of the Bollinger bands indicator on the same time frame and started climbing. I think its next target is 1.3100.

 The pair formed an inverted hammer candlestick on the 30-min chart above the support at 1.3030 and started retracing but I don't think the move to the downside is over yet, in my opinion, after it reaches the resistance at 1.3060 it will continue falling.

It might be consolidating. 

The USDCAD stays consolidated between the 1.3100 level and the 1.3000 level, it may be waiting for oil to decide what to do.

The US Non-farm Payrolls today pushed the pair below the support at 1.3030 and USD/CAD continued dropping. I think next target is 1.2850, maybe even 1.2800.

Buy the dips id say.

The 1.2900 level may act as a support, the 1.3100 or the 1.3200 may act as resistances.