Consolidation now, possible pull back soon
Daily (regular candles):
The main trend is bullish, but looks like USDCAD has some problem with 1,2000 high, Price refused it two times. The candle two days ago is a Hanging Man. Slow Stoch already signals momentum sell, and now MACD is attempting to cross down as well. Supports are 1,1920 (Tenkan Sen), 1,1780 (Kijun Sen) and as strong support 1,1600-1,1650 area with Senkou B and horizontal support.
Daily (Heiken Ashi candles):
We have two doji like candles in a row, while haDelta is again below its SMA3 and attacking zero line.
The situation is pretty much similar to the one seen between 16-31/Dec/2014, both in terms of haDelta and the indicators on the regular daily chart in the left panel. So scenarios are possible here:
A) it continues sideaway consolidation only, with no further dip and no further confirming sell signals
B) this time it goes corrective with HA candles changing to red with no upper wicks.
4 Hrs:
The picture here is totally neutral. Chikou Span hit Price candles, Kijun Sen is flat, DMI shows no signal with ADX down to "no trend" level.
Please note that 100 WMA, Senkou B and Kijun Sen are all ard same level (1,1875-1,1925). For a possible counter trend acceleration (bearish move) Price needs to break through this area decisevely.
The main trend is bullish, but looks like USDCAD has some problem with 1,2000 high, Price refused it two times. The candle two days ago is a Hanging Man. Slow Stoch already signals momentum sell, and now MACD is attempting to cross down as well. Supports are 1,1920 (Tenkan Sen), 1,1780 (Kijun Sen) and as strong support 1,1600-1,1650 area with Senkou B and horizontal support.
Daily (Heiken Ashi candles):
We have two doji like candles in a row, while haDelta is again below its SMA3 and attacking zero line.
The situation is pretty much similar to the one seen between 16-31/Dec/2014, both in terms of haDelta and the indicators on the regular daily chart in the left panel. So scenarios are possible here:
A) it continues sideaway consolidation only, with no further dip and no further confirming sell signals
B) this time it goes corrective with HA candles changing to red with no upper wicks.
4 Hrs:
The picture here is totally neutral. Chikou Span hit Price candles, Kijun Sen is flat, DMI shows no signal with ADX down to "no trend" level.
Please note that 100 WMA, Senkou B and Kijun Sen are all ard same level (1,1875-1,1925). For a possible counter trend acceleration (bearish move) Price needs to break through this area decisevely.