Candlesticks Analysis for USDCAD


#1

As we can see in the H4 chart, USDCAD is testing the resistance level within the uptrend and has already formed several reversal candlesticks, including Shooting Star pattern. Right now, the pair is still testing the level. Possibly, the price may rebound from the resistance line and go back to 1.3125. However, we shouldn’t ignore a possibility that the instrument may move sideways without reversing, break the channel’s upside border, and continue its growth to reach 1.3270.


#2

Interesting…bearish move might as well continue.