hharrington

USD/CAD Pullback Loosing Steam.

FX:USDCAD   U.S. Dollar / Canadian Dollar
We had an overextended bullish run on the USDCAD-0.01% pair up to historically high area of 1.46-1.47 and since then finally got the pullback that was overdue. On the daily we had nice deceleration to the .382 fib retracement from recent swing high and now are currently forming a beautiful doji for a nice setup in the week to come. 4hr & 1hr charts show a descending triangle after the initial move down, which signifies the pullback is running out of steam. With all the confluence developing at the end of the week, I predict we will resume the bullish trend at the beginning of the new week. Looking for a long entry as soon as the market opens up next week.
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