UPDATE: USDCAD - Bullish Crab + Adding a Bullish Bat

Last week I posted several posts about this pair. So far, all is going as anticipated. One was my longer term analysis on this pair (see Related Ideas: "USDCAD: So, You Wanna Go SHORT? B4 You Do, You Should Know..") In my other posts, I alerted about a POTENTIAL Bullish Crab pattern that was also developing (see Related Ideas:"UPDATE: USDCAD - Totally USELESS Crab: IMPROVED & MORE USEFUL! ")

With last week's price action, nothing has changed in my longer term analysis of this pair.

In this UPDATE, I am now adding a POTENTIAL bullish Bat pattern that also formed due to last week's price action. This bat is inside the crab pattern meaning that it's range and take profit targets are all contained within the range of the crab pattern. It can be expected that the bat will both complete and reach it's profit targets and would not invalidate the crab pattern. In fact, I would expect that prices may complete the bat, retrace to reach at least target 1 of the bat pattern and then resume downward momentum to complete the crab or just stop short of it at the .382 level of the larger Gartley pattern.