(0,9981) The USD/CAD formed a positive outside day after a test of the 0,9930 level. We have now 1,0010 – 0,9920 the levels to follow in the coming hours. The indicators of the daily chart are still well in positive territory and this morning also those of the s/t ones are above the line suggesting further upside potential. However, the move up already sent overbought the houly indicators forming also potential negative reversals. This should limit the upside favouring a return toward lower levels. Only an hourly closing above 1,0000 will postpone direct weakness suggesting a higher retracement toward 1,0050 confirming also a small double bottom. We wait for this possible move to go short!!
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Future Trend Research