(1,0312) The USD/CAD confirmed a strong closing last night but it failed to confirm a new high despite the rally that favoured a 1,0330 overshooting. Overall the pair is still consolidating interior last Friday’s negative day reversal with 1,0355 – 1,0250 still the levels to follow in the coming hours. A break above 1,0355 will re-launch the move up suggesting a 1,04 overshooting!! The indicators of the daily chart are still well positive but also still well overbought and still showing a potential double top formation; bearish divergences are however also confirming a positive tone. The indicators of the s/t charts are mixed at the moment with however a positive bias. In the s/t we may see a correction toward the 200 hours line now found at 1,0272. We stay on the sideline waiting for stronger signals.
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Future Trend Research