Shooting Star on USDCAD weekly 8 Feb - 5 Mar 2022

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Dólar Americano/Dólar Canadense (FX:USDCAD)

FX:USDCAD Dólar Americano/Dólar Canadense

supportandresistance fibonacci candlestick usdcad loonie shortsignal

Alright, apparently USD is losing grounds against CAD. Breaking 1.2689, which it shall probably will, open way to 1.2600 and 1.2500.
Huge shooting star (inverted hammer) on weekly timeframe, with marketing stabilizing itself from the sudden spike on oil last week.
Chances are, we might actually see Loonie Dollar struggling between 1.2600 and 1.2700 for the upcoming week.
Keep in mind the entire picture and levels on the chart, avoid long positions, happy trading and Best of luck.

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