The Canadian Dollar fell against the US dollar and broke the stubborn level at 1.2600 handle which was the gate for buyers to push the price higher and trigger previous highs that were our major bullish targets as shown on the chart.
with that being said, the pair is more likely to continue to go higher, however, keep in mind that the market is at a significant level 1.3000 handle that may cause a noise for the next up sessions.
personally, for me, I'm looking for a close higher than the shooting star that has formed on the daily chart on 27th of OCT to keep my long position going.
on the other hand, if the market fails to break above that, then it might be a weakness sign and we may see a sort of correction at that point leading us back to 1.2770 levels
with that being said, the pair is more likely to continue to go higher, however, keep in mind that the market is at a significant level 1.3000 handle that may cause a noise for the next up sessions.
personally, for me, I'm looking for a close higher than the shooting star that has formed on the daily chart on 27th of OCT to keep my long position going.
on the other hand, if the market fails to break above that, then it might be a weakness sign and we may see a sort of correction at that point leading us back to 1.2770 levels