(1,0257) The USD/CAD is confirming further consolidation interior Friday’s negative day reversal with 1,0355 – 1,0250 still the levels to follow in the coming hours. A break of the support at 1,0250 confirmed by a daily closing will confirm also Friday’s negative day reversal supporting a firm retest of the 1,02 area where we find the former resistance line, now support!! The indicators of the daily chart are still well positive but also still well overbought and showing a potential double top formation. The indicators of the s/t charts are instead all below the line this morning supporting some downside potential. In the hourly chart we have even a negative reversal situation suggesting a s/t target at 1,0247!! We still expect a possible drop toward the 1,02 area and the signals are now a little stronger but still not enough to suggest a short position!!!
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Future Trend Research