Bearish Butterfly forming on the USDCAD Daily Chart

FX:USDCAD   U.S. Dollar / Canadian Dollar
A Butterfly is forming on the USDCAD daily chart . The primary determining element is the precise 0.786 B retracement which happened at 1.3348.

Potential Reversal Zone:

1.27 XA projection at D ( at 1.3548 ) completes the structure and is the most critical point of the pattern.

2.24 BC projection is at 1.3549

1.27 AB = CD is at 1.3598.

Let us see how this proceeds. Looks like it's going to rise in the short term.

Let's hope for the best.


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